Marin-Air is selling a new model of high-efficiency air conditioner. To stimulate interest, Marin-Air is granting certain large customers the unconditional right to return these air conditioners if not fully satisfied. The right of return extends for six months. Marin-Air estimates returns of 9%. Marin-Air sells these air conditioners on account for $18, 040,000 (cost $11, 726,000) on April 2, 2017. Customers are required to pay the full amount due by June 15, 2017. Assume Marin-Air prepares financial statements quarterly. Prepare the necessary entries (if any) to adjust Marin-Air's financial results for the above transactions on June 30, 2017, assuming remaining expected returns of $1, 330,000