Frigid Temperatures Inc.has sold 1,000 refrigerators during 2020 at a total price of $ 1,620,000, with a warranty guarantee that the product was free from any defects. The cost of the refrigeratorssold was $1,080,000. The warranty covers one year, with an estimated cost of $ 10,000. In addition,Frigid Temperatures Inc.sold extended warranties on 600 refrigerators for four years beyond the one-year period for $ 210,000.

Required

1.Prepare the journal entries to record the sale and related warranties for 2020.