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 returnedIn December, Ivanhoe sold 40,000 units and 710 defective units were returned. The actual cost of replacing the defective units was $22,816 Prepare one summary journal entry at December 31, 2024, to record the cost of replacing the defective game consoles returned during November and December