Karen Factory provides a 2-year warranty with one of its products which was first sold in 2020. Karen sold $1,300,000 of products subject to the warranty. Karen expects $162,500 of warranty costs over the next 2 years. In 2020, Streep spent $50,000 servicing warranty claims. Prepare Karen's journal entries in 2020 to record the sales of its products, the costs incurred in honoring the warranties (assume expenditures are for repair costs), and the estimated liability for warranties at December 31, 2020. (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 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To record sales) (To record honoring of warranty contracts) I Debit