Current Attempt in Progress

On January $1,2023,$ Wildhorse Ltd$.$ sold on account $1,200$ units of its product for a total price of $$525,000$ and a cost of $$451,000.$ The

products have a one$-$year assurance$-$type warranty and Wildhorse estimates that the cost will be $$22,000.$ By the company's year$-$end

December $31,2023,$ actual warranty costs related to the products sold was $$18,000,$ 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. List all

debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record the sale$)$

$($To record the cost of goods sold$)$