Warranty Costs Milford Company sells a motor that carries a three-month unconditional warranty against product failure. Based on a reliable statistical analysis, Milford knows that between the sale and the end of the product warranty period, two percent of the units sold will require repair at an average cost of $50 per unit. The following data reflect Milford's recent experiences October November December Det. 31 Total Units sold 25.000 27.000 27,000 79.000 Known product fatores from sales in October 120 160 450 November 130 220 350 December 210 210 Calculate, and prepare a journal entry to record, the estimated ability for product warranties at December 31. Assume that warranty costs of known failures have already been reflected in the records General Journal Date Description Debit Credit Dec 31 to provide formated te warranty expande