Landau Manufacturing Company manufactures and distributes small power tools. Landau offers an assurance- type warranty that covers all repair costs, including parts and labor, for two years after the date of sale. During the current year, the company sold $ 8,000,000 in power tools to major retail stores. The company estimates that warranty costs will be 6% of sales. Landau made no repairs in the year of the sale. However, during the following year, the company incurred $ 182,000 in actual warranty claims. The repair costs included $ 132,000 in parts and $ 50,000 in labor ( unpaid). Prepare the journal entries necessary to record the base warranty in the year of the sale and the actual repairs incurred during the following year assuming that Landau uses the cash basis.