View Policies Current Attempt in Progress Flounder Factory provides a 2-year warranty with one of its products which was first sold in 2020. Flounder sold $932,300 of products subject to the warranty. Flounder expects $118,280 of warranty costs over the next 2 years. In that year, Flounder spent $72,730 servicing warranty claims. Prepare Flounder's journal entry to record the sales (ignore cost of goods sold) and the December 31 adjusting entry, assuming the expenditures are inventory costs. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2020 (To record sales) During 2020 (To record warranty claims) 12/31/20 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit