Question 11 --/5 View Policies Current Attempt in Progress In 2021. Ivanhoe Company introduces a new product that includes a two-year warranty on parts. During 2021.4,700 units are sold for $450 each. The cost of each unit was $200. The company estimates that 8% of the units will be defective and that the average warranty cost will be 585 per unit. The company has a December 31 fiscal year end and prepares adjusting entries on an annual basis. Prepare an adjusting entry at December 31, 2021. to accrue the estimated warranty cost. (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 for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31 (To accrue estimated warranty expense.) Type here to search o HI . ENG 23:05 13-06-2000 20 c 2 Pise De $ & 2 3 5 6