M On December 31, 2020, Alpha Company sells production equipment to Fargo Inc. for $75,000. Alpha includes a 1-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on December 31, 2020. Alpha estimates the prices to be $73,200 for the equipment and $1,800 for the cost of the warranty. A. Prepare the journal entry to record this transaction on Dec. 31, 2020. Date Account Debit Credit 4 5 16 B. Repeat the requirements for (a) assuming that in addition to the assurance warranty, Alpha sold an extended 7 warranty (service-type warranty) for an additional 2 years (2022-20230 or $1,200. 18 19Date 20 Years (202.2030 Account Debit Credit