Question

The following transactions of Percy Bowes occurred during 2016. Click the icon to view the transactions Requirements 1. Joumalize required transactions, if any, in Bowes's general joumal. Explanations are not required. 2. What is the balance in Estimated Warranty Payable assuming a beginning balance of so? Requirement 1. Joumalize required transactions, if any, in Bowes's general journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. For transactions that do not require an entry, make sure to select No entry required in the first cell in the Accounts column and leave all other cells blank.) Apr 30: Bowes is party to a patent infringement lawsuit of $160,000. Bowess attorney is certain it is remote that Bowes will lose this lawsuit Accounts and Explanation Date Debit Credit More Info Apr. 30 Apr 30 owes is party to a patent infringement lawsuit of $160,000. Bowes's attomey is certain it is remote that Bowes will lose this lawsuit. Jun. 30 Estimated warranty expense at 4% of sales of $440,000. Jul 28 Warranty claims paid in the amount of $5.700. Sep. 30 owes is party to a lawsuit for copyright violation of $160,000. Bowes's attorney advises that it is probable Bowes will lose this lawsuit. The attorney estimates the loss at $160,000. Dec. 31 Bowes estimates warranty expense on sales for the second half of the year of $480,000 at 4%.