Talarczyk Company sold 10,000 Super-Spreaders on July 1, 2015, at a total price of €1,000,000, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is

€550,000. The assurance warranties extend for a 2-year period and are estimated to cost €40,000. Talarczyk also sold extended warranties (service-type warranties) related to 2,000 spreaders for 2 years beyond the 2-year period for €12,000. Prepare the journal entries that Talarczyk should make in 2015 related to the sale and the related warranties.