Exercise 13-11 Early in 2020, Windsor Equipment Company sold 500 Rollomatics at $5,500 each. During 2020, Windsor spent $22,000 servicing the 2-year assurance warranties that accompany the Rollomatic. All applicable transactions are on a cash basis. Your answer is partially correct. Try again. Prepare 2020 entries for Windsor. Assume that Windsor estimates the total cost of servicing the warranties in the second year will be $38,000. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit TAt Sale Cash 2750000 | Sales Revenue 2750000 During 2020 Warranty Expense 22000 Cash Cash 22000 TDec. 31, 2020 Warranty Expense 16000 Warranty Liability 16000 Prepare 2020 entries for Windsor 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. Warranty costs incurred in 2020 were $22,000. Estimate revenues to be recognized on a straight-line basis. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 5 decimal places, e.g. 1.54657 answers to o decimal places, e.g. 5,125. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Wat sale At Sale Cash cash 2750000 Sales Revenue 2689000 Unearned Warranty Rev 61000 During 2020 Warranty Expense 22000 Cash cash 22000 TDec. 31, 2020 Unearned Warranty Reven 35380 Warranty Revenue 35380 (To record warranty revenue)