Strong & Tough Bag Company is a manufacturer and dealer of high quality hand bags. Each hand bag comes with a standard two-year warranty against any repairs. Strong & Tough has an August 31 year-end. Assume all sales of hand bags occurred on November 30, 2019 and no other sales of hand bags occurred during the year. Additional data relating to the warranty contracts follows: E of hand bars sold on Nov 30, 2019 on account Sales price per handbag Inventory cost of handbag 800 $ 700 $ 385 Total estimated costs servicing two-year warranty contract: $ 81.000 Total repair costs incurred bewteen November 30, 2019 & August 31, 2020 for hand bags under warranty Total repair costs incurred bewteen November 30, 2019 & August 31, 2020 for hand bags under warranty: Labour $ 7,800 Parts $ 5,600 (1) Prepare All appropriate journal entries relating to the product sale and warranty contracts for the year ending August 31, 2020. Use the drop-down boxes for account names. Use the entry description to help record the appropriate entry. If no entry is needed, select N/A from the first line. All journal entries must have debits listed before credits. Date Account Title Debit Credit Nov. 30/19 Sale of bogs Nov. 30/19 Cost of Bags