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ge two-year warranty with one of its products, which was first sold in 2023. In that year, products for $2.98 million and spent $74,000
ge two-year warranty with one of its products, which was first sold in 2023. In that year, products for $2.98 million and spent $74,000 servicing warranty claims. At year end, Marigold estimates that an additional $508.500 will be spent in the future to service warranty claims related to the 2023 sales Prepare ournal entries to record the sale of the products, the $74,000 expenditure, and the December 31 adjusting entry under the assurance-type warranty approach Ignore any cost of goods sold entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation (To record cash sale) (To record warranty expense) (To accrue warranty expense) Debit Credit
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