In 2021, Blossom Company introduces a new product that includes a two year warranty on parts. During 2021, 4,300 units are sold for $440 each. The cost of each unit was $170. The company estimates that 6% of the units will be defective and that the average warranty cost will be $80 per unit. The company has a December 31 fiscal year end and prepares adjusting entries on an annual basis Prepare an adjusting entry at December 31, 2021, to accrue the estimated warranty cost. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31 (To accrue estimated warranty expense.)