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Wright Machinery Corporation manufactures automobile engines for major automobile producers. The engines sell for $920...

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Wright Machinery Corporation manufactures automobile engines for major automobile producers. The engines sell for $920 per engine. In addition, customers have the option to purchase a service-type warranty for $73 per engine that protects against any defects for a period of 5 years. During 2019, Wright sold 8,000 engines to National Motors National Motors purchased warranties on all of the engines purchased. During 2019, Wright repaired defective motors at a cost of $94,400 Required: Prepare the journal entries for the preceding transactions ho > defective motors at a cost of $94.400. Required: Prepare the journal entries for the preceding transactions General Journal Prepare the necessary journal entries on December 31, to record: 1. The sale of engines and service warranty on account during 2019 (one entr 2. The warranty costs paid during 2019. 3. The warranty revenue earned in 2019 General Journal Instructions

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