Question 12 of 16 - /14 3 View Policies Current Attempt in Progress On January 1, 2020, Blossom Ltd. sold on account 1,200 units of its product for a total price of $553,000 and a cost of $453,000. The products have a one-year assurance-type warranty and Blossom estimates that the cost will be $22,600. By the company's year-end December 31, 2020, actual warranty costs related to the products sold was $19,300, 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.) Date Account Titles and Explanation Debit Credit January 1/20 Accounts Receivable Warranty Expense Unearned Revenuel Sales Revenue 553 (To record the sale) January 1/20 Cost of Goods Sold Inventory (To record the cost of goods sold) December 31/20 (To record warranty costs)