17) M&D Company has numerous employees who are paid on a monthly basis. Payroll information for August of the current year is given below. Employee compensation $135,000 Union dues 1,450 Charitable contributions 875 Employee CPP contributions 4,320 Employee El contributions 2,336 Employee income tax withheld 20,250 Prepare the joumal entries to record the August payroll and the payroll benefits expense for M&D Company for August. Also prepare the entries to record the payment of payroll withholdings to the government and other agencies on September 15. Explanations are not required. 37) Western Yard Equipment offers warranties on all their lawn mowers. They estimate warranty expense at 1.4% of sales. At the beginning of 2013, the estimated warranty payable account had a credit balance of $1,200. During the year, Western Yard Equipment had $485,000 of sales, and had to pay out $8,730 in warranty payments Required: 1. Prepare the required journal entries to record warranty expense and payments. Use December 31 for the journal entry date. 2. What is the balance of the warrantee liability at the end of 2013? Indicate whether the balance is a debit or a credit