Sail Sea Inc. sells deep sea fishing poles for $250 each. Each pole has a 1-year warranty. Sail Sea estimates that the average warranty cost is $5 per pole. Additionally, the company sells an extended two-year warranty for an additional $10 per pole. During May 2017, Sail Sea sells 100 poles on account. Assuming that the company uses the periodic inventory method, prepare the journal entries associated with the sale and the warranties.