xercise 18-26 lanuary 2, 2017, Cullumber Company sells production equipment to Fargo Inc. for $48,000. Cullumber includes a 2-year assurance warranty service with the s 20 (Use f l its equipment. The customer receives and pays for the equipment on January 2, 2017. During 2017 xpense account). At December 31, 2017, Cullumber estimat , Cullumber incurs costs related to warranties of s9 that $620 of warranty costs will be incurred in the second year of the warranty repare the journal entry to record this transaction on January 2, 2017, and on December 31, 2017 (assuming financial statements are prepared on December 31 017). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Itl no entry is required, select "No ent for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit nt ullumber sold an extended warranty (se type warranty) for an a pea t the requirements for (a), assuming that in addition to the assurance warranty,C dented when the amount is entered. Do not indent manually, Il no entry is required select "No entry" for the account titles and enter O for the amounts Delit DateAccount Titles and Explanation LINK TO TEX