During December, Jester Company sold 3,000 units of a product that carries a 60-day warranty. December sales for this product total $120,000. The company expects 8% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $15. Prepare any necessary adjusting entries at December 31, 2015, for Jester Company's year-end financial statements for each of the following separate transactions and events.