On January 1,2023 , Sunland Ltd. sold on account 1,400 units of its product for a total price of $537,000 with a warranty guarantee that the products were free of any defects. The products have a one-year assurance-type warranty and Sunland estimates that the cost will be $25,800. The cost of the units is $447,000. In addition, the company sold extended warranties related to 400 units for a one-year period beyond the one-year assurance period at a cost of $15,200. By the company's year-end, December 31,2023 , no warranty costs were incurred. By the company's year-end, December 31, 2024, $9,545 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. 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.) Date Account Titles and Explanation January 1/23 December 31/22 December 31/24 (To record the revenue and liabilities related to the sale of 1,000 units and applicable warranties.) (To record the cost of goods sold.)