• Record the sale, with deferral for warranty (Assume credit sales).
• Record the costs incurred.
• Record the amortization of deferred revenue.
• Record the costs incurred.
• Record the amortization of deferred revenue.

On 30 April 20X2, Neuman Ltd. sells a product to a customer for $624,000. The product carries a one-year assurance warranty. Neuman management estimates that the probable cost of fulfilling the warranty will be $52,000. Between 1 May and 31 December 202, the actual warranty cost was $20,800. On 31 December 202, management decides that the probable additional warranty cost will be no more than $13,600. Between 1 January and 30 April 203, the additional cost was $11,600. 2. Assume instead that the warranty now includes service and is sold separately with a stand-alone value of $79,000. The product a stand-alone value of $611,000 and the total contract is $624,000. Prepare the relevant journal entries for 30 April 202 through April 20X3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round intermediate calculations to one decimal place.) Journal entry worksheet 45 Record the sale, with deferral for warranty (Assume credit sales). Note: Enter debits before credits