On 30 April 20X2, Neuman Ltd. sells a product to a customer for $612,000. The product carries a one-year assurance warranty. Neuman management estimates that the probable cost of fulfilling the warranty will be $51,000. Between 1 May and 31 December 20X2, the actual warranty cost was $20,400. On 31 December 20X2, management decides that the probable additional warranty cost will be no more than $13,300. Between 1 January and 30 April 20X3, the additional cost was $11,300. Required: 1. Prepare the entries concerning the sale and the warranty for 30 April 20X2 through 30 April 20X3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)