On January 1,2023 , Blossom Ltd. sold on account 1,500 units of its product for a total price of $567,000 with a warranty guarantee that the products were free of any defects. The products have a one-year assurance-type warranty and Blossom estimates that the cost will be $26,400. The cost of the units is $459,000. In addition, the company sold extended warranties related to 700 units for a one-year period beyond the one-year assurance period at a cost of $16,700. By the company's year-end, December 31,2023 , no warranty costs were incurred. By the company's year-end, December 31, 2024, \$9,645 of warranty costs were incurred and paid in cash. Prepare the appropriate journal entries for 2023 and 2024 . (Credit account titles are automatically indented when the amount is entered. Date Account Titles and Explanation Debit Credit (To record the revenue and liabilities related to the sale of 1,000 units and applicable warranties.) (To record the cost of goods sold.)