Ivanhoe Inc. began selling game consoles on November 1, 2024. The company offers a 60-day warranty for defective merchandise. Based on past experience with other similar products, Ivanhoe estimates that 2.90% of the units sold will become defective in the warranty period, and that the average cost of replacing or repairing a defective unit is $23. In November, Ivanhoe sold 34,000 units and 530 defective units were returned. In December, Ivanhoe sold 40,000 units and 710 defective units were returned. The actual cost of replacing the defective units was $22,816. Your answer is partially correct. Prepare a journal entry to accrue for the estimated warranty costs for the November and December sales at December 31, 2024. (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 O for the amounts. List debit entry before credit entry) Date Account Titles Dec. 31 Warranty Expense Warranty Liability Debit Credit 22816 22816 (b) Prepare one summary journal entry at December 31, 2024, to record the cost of replacing the defective game consoles returned during November and December. (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 O for the amounts. List debit entry before credit entry) Date Account Titles Dec. 31 Debit Credit Current Attempt in Progress Tamarisk publishes a monthly sports magazine, Hockey Hits. Subscriptions to the magazine cost $16 per year. During November 2024, Tamarisk sells 13,500 subscriptions beginning with the December issue. Tamarisk prepares financial statements quarterly and recognizes revenue for magazines sold at the end of the quarter. The company uses the accounts Unearned Revenue and Revenue. (a) Your answer is correct. Prepare the entry in November for the receipt of the subscriptions. (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 O for the amounts. List debit entry before credit entry) Date Account Titles Nov. 2024 Cash Debit 216000 Credit (c) Prepare the adjusting entry at March 31, 2025, to record revenue to be recognized in the first quarter of 2025. (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 O for the amounts. List debit entry before credit entry.) Date Mar. 31, Account Titles Debit Credit 2025