Current Attempt in Progress On December 31, 2020, Novak Company sells production equipment to Fargo Inc. for $69,000. Novak includes a 1-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on December 31, 2020. Novak estimates the prices to be $67,140 for the equipment and $1,860 for the cost of the warranty. (a)