On January 1, 2023, Cullumber Ltd. sold on account 1,400 units of its product for a total price of $557,000 and a cost of $457,000. The products have a one-year assurance-type warranty and Cullumber estimates that the cost will be $24,600. By the company's year-end December 31,2023 , actual warranty costs related to the products sold was $18,700, paid in cash. Prepare all appropriate journal entries including the sale of merchandise. (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. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) (To record the cost of goods sold)