Teal Factory provides a 2-year warranty with one of its products which was first sold in 2017. Teal sold $932,300 of products subject to the warranty. Teal expects $118,280 of warranty costs over the next 2 years. In that year, Teal spent $72,730 servicing warranty claims. Prepare Teals journal entry to record the sales (ignore cost of goods sold) and the December 31 adjusting entry, assuming the expenditures are inventory costs.