Herren Corporation manufactures smartphones. Each phone is sold with a two-year unconditional warranty against defects. During 2020,280 phones were sold for $150 each. The company estimates that the warranty cost will average $20 per unit. The actual warranty costs incurred in 2020 amounted to $2,350. Instructions: Prepare the journal entries for the sale of phones, the estimated warranty cost, and the actual warranty cost incurred