er 13 handout (1) Updates Not installed Some.pdates coud not be installed automatically Le Font Fisa Select Check for Updates N SERVICE TYPE WARRANTY Bridgeport Corporation sells DVD players. The corporation also offers its customers a 4 year warranty contract. During 2020, Bridgeport sold 20,000 warranty contracts at $69 each. The corporation spent $165,000 servicing warranties during 2020, and it estimates that an additional $825.000 will be spent in the future to service the warranties. Prepare Bridgeport's journal entry for the sale of contracts. Assume the service costs are inventory costs. SALE OF WARRANTIES Dobit Credit Cost of servicing the warranties in 2020. Assume the service costs are inventory costs Debit Credit Prepare Bridgeport's 2020 journal entry for the recognition of warranty revenue Debit Credit Warranties Premium Contingencies Compensated Absendes Refinance ST Det ER 115% MacBook Air