Exercise 13-11 Early in 2017, Sarasota Equipment Company sold s00 Rollomatics during 2017 at $s6,soo each. During 2017, Sarasota spent $20,000 servicing the 2-year assurance warranties that accompany the Rollomatic. All applicable transactions are on a cash basis. Prepare 2017 entries for Sarasota. Assume that Sarasota estimates the total cost of servicing the warranties will be $60.000 for 2 years. (If no entry is required, select No Entny for the account titles and enter o for the amounts. Credit account t titles are automatically indented when amount is entered. Deo not indent manually) Debit Credit Date Account litles and Explanation Prepare 2017 entries for Sarasota assuming that the warranties are not an integral part of the sale (a service-type warranty). Assume that of the sales total, $61,000 relates to sales of warranty contracts. Sarasota estimates the total cost of serviding the warranties will be $60.000 for 2 years. Estimate revenues to be recognized on a straight-line basis. (CIf no entry is required, select "No Entry" for the account tities and enter o for the amounts. credit account titles are automatically indented when amount is entered. Do not indent manualy. Round intermediate calculations to S decimal places, e.s. 1.54657 answers to o decimal places, e.o. 5.125) Date Account Titles and Explanation Debit Credit (To record warranty revenue) 4, 100%