1.		On December 1, Teal Mountain accepted an order from a new customer, Waterway Computers. Waterway has a questionable credit history, so Teal Mountain requires a $9,000 deposit from Waterway in order to begin production on its order.
2.		During December, cash sales at Teal Mountain s retail locations totaled $3,852,000, which includes the 7% sales tax Teal Mountain must remit to the state by the fifteenth day of the following month.
3.		During the year, Teal Mountain was sued by a competitor for a patent violation. The competitor is claiming that Teal Mountain s liability is $2,300,000. Teal Mountain s attorneys have advised it that it is probable that the court will find for the companys competitor. The attorneys estimate that the liability under the suit could be as little as $92,000 or as much as $460,000. The attorneys do not believe any amount within this range is a better estimate of Teal Mountain s liability than any other amount within the range.
4.		Teal Mountain provides one-year warranties on the laptops it sells. During the year, Teal Mountain s laptop sales totaled $92,000,000. Historically, Teal Mountain s warranty liability has been one percent of total sales. Teal Mountain began the year with a warranty liability balance of $740,000. Warranty expenditures during the year were $715,000 for computers sold in prior years and $221,000 for computers sold during the year. These expenditures were recorded as credits to cash and debits to the warranty liability account. Any remaining warranty liability is expected to relate to computers sold during the current year.

Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting journal entries relative to the transactions that would be required to present fair financial statements at December 31. For simplicity, assume that adjusting entries are recorded only once a year on December 31

Please help, this requires four entries