Sail Sea Inc. sells deep sea fishing poles for $200 each. Each pole has a 1-year warranty. Sail Sea estimates that the average warranty cost is $4 per pole. Sail Sea Inc. also sells an extended 3-year warranty for $16 per pole. During May 2015, Sail Sea sells 200 poles and 25 extended warranties. Assuming that the company uses the periodic inventory method, prepare the journal entries associated with the sale and the warranties