Blue provides a 2-year warranty with one of its products which was…

Blue provides a 2-year warranty with one of its products which was first sold in2017. Blossom sold $932,300 of products subject to the warranty. Blossom expects$118280 of warranty costs over the next 2 years. In that year, Blossom spent$72730 servicing warranty claims. Prepare Blue’s journal entry to record thesales (ignore cost of goods sold) and the December 31 adjusting entry, assumingthe expenditures are inventory costs.