Reflections Mirrors, Ltd. offers a three- year warranty on all its products. In year 1, the company reported income before warranty expense of $ 620,000 and estimated that warranty repairs would cost the company $ 150,000 over the three- year period. Actual repairs for the year amounted to $ 50,000. Reflections Mirrors’ tax rate is 40%. Prepare the journal entries required to record the tax provision for year 1.