Lilac Buys, Inc. offers a 1-year assurance-type warranty on each television sold. The company also sells a 3-year service-type warranty contract for its televisions. On January 1, 2019, Lilac Buys sold $420,000 of service-type warranties and received cash. The service-type warranty contracts are effective immediately and cover the period from January 1, 2019, through December 31, 2021. Lilac Buys incurred costs of $90,000 in 2020 related to the warranties; $59,000 of this cost was for parts and the remaining $31,000 was for labor (unpaid). Provide the necessary journal entries to account for the service-type warranty contract over the January 1, 2019, through December 31, 2021, period. (Record debits first, then credits. Exclude explanations from any journal entries.)