can you please answer the following questions in order and make it simple

X i More Info December requi 5 20 Driven sold 14 go-karts on account. The selling price of each go-kart was $1,400; the cost of goods sold for each was $400. Driven received notice of a class-action lawsuit being filed against it. The lawsuit claims that Driven's go-karts have engine defects that appear after the warranty period expires. The plaintiffs want Driven to replace the defective engines and pay damages for the owners' loss of use. The cost of replacing the engines would be approximately $415,000 (not including any damages). Driven's attorney believes that it is reasonably possible that Driven will lose the case, but the attorney cannot provide a dollar estimate of the potential loss amount. Driven performed repairs due to product warranty complaints for two go-karts sold earlier in the year. Driven's cost of the repairs, paid in cash, was $750. An individual claims that he suffered emotional distress from a high-speed ride on a Driven Go-Kart and is seeking $540,000 in damages. Driven's attorney believes the case is frivolous because it does not have any legal merit. Another customer is suing Driven for $170,000 because a defect in the customer's Driven Go-Kart engine started a fire and destroyed the customer's garage. Driven's attorney believes the customer will probably win the case and receive $170,000. (Use the following account names: Loss from Lawsuit and Accrued Liability from Lawsuit.) Driven estimates that the warranty expense is 9% of gross sales. Driven's gross sales for the period totaled $780,000 22 27 31 Print Done Driven Go-Karts sells motorized go-karts. Driven Go-Karts are motorized and are typically purchased by amusement parks and other recre company uses a perpetual inventory system. Selected transactions in the month of December follow: (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare the journal entries to record the transactions shown. Omit explanations. (Record debits first, then credits. Explana in the first cell in the "Accounts" column and leave all other cells blank.) Dec 1: Driven sold 14 go-karts on account. The selling price of each go-kart was $1,400; the cost of goods sold for each was $400. Do not record the cost related to the sale. We will do this in the next journal entry. Journal Entry Accounts Debit Credit Date Dec 1 Now record the cost related to the sale above. Journal Entry Accounts Date Debit Credit Dec 1 Choose from any list or enter any number in the input fields and then continue to the next question. Driven Go Karts sells motorired go-karts. Driven Go Karts we motorized and are typically purchased by amusement parts and other recreation facilities, but we also occasionally purchased by individuals for their own personal use. The company uses a perpetual inventory system. Selected transactions in the month of December follow Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare the journal entries to record the transactions shown. Omit explanations. (Record debits first, then credits. Explanations are not required. For situations that do not require an entry, make sure to select "No entry required in the first call in the Accounts Column and leave all other cells blank.) Dec : Driven sold 14 gokarts on account. The sling price of each gokart was $1,400, the cost of goods sold for each was 5400 Do not record the cost related to the sale. We will do this in the next pumal entry Journal Entry Date Accounts Debit Cred Dec 1 Now record the cost related to the sale above Journal Entry Accounts Det Credit Dec 1 Choose from any list or enter any number in the input fields and then continue to the next question Driven Go-Karts sells motorized go-karts. Driven Go-Karts are motorized and are typically purchased by amusement parks and other recreation facile company uses a perpetual inventory system. Selected transactions in the month of December follow (Click the icon to view the transactions.) Read the requirements Dec 5: Driven received notice of a class-action lawsuit being filed against it. The lawsuit claims that Driven's go-karts have engine defects that appeam and pay damages for the owners' loss of use. The cost of replacing the engines would be approximately $415,000 (not including any damages). Drive attorney cannot provide a dollar estimate of the potential loss amount. Journal Entry Date Accounts Debit Credit Dec 5 Dec 20: Driven performed repairs due to product warranty complaints for two go-karts sold earlier in the year. Driven's cost of the repairs, paid in cash, Journal Entry Accounts Date Dec 20 Debit Credit Dec 22: An individual claims that he suffered emotional distress from a high-speed ride on a Driven Go-Kart and is seeking $540,000 in damages. Driven Choose from any list or enter any number in the input fields and then continue to the next question. Read the reguirements Dec 22: An individual claims that he suffered emotional distress from a high speed ride on a Driven Go-Kart and is sokong $540,000 in damages Drivers womey believes the case is frivolous because it does not have any lega merit Journal Entry Date Accounts Cred Dec 22 Dec 27 Another Customer sung Drven de 170.000 became a detect in the customers the Dokat engine stored a few and outroyed the customers garage. Dver's otomay before the customer will probably wn the case and receive $170.000. (Use the following accountnames: Loss from Lawsuit and Accredibly from Lawsuit Journal Entry Account Credit 27 Date Dec Debit Dec 31 Driven estimates that he warranty expense is of gross sales. Driver's gross sales for the period totaled 5780.000 Journal Entry Choose from any list or enter any number in the input fields and then continue to the next gestion Driven Go-Karts sells motorized go-karts. Driven Go-Karts are motorized and are typically purchased by amusement parks and other recreation facilities, but are so occasionally purchased by indivi company uses a perpetual inventory system. Selected transactions in the month of December follow: (Click the icon to view the transactions.) Read the requirements Dec 31: Driven estimates that the warranty expense is 9% of gross sales. Driver's gross sales for the period totaled $780,000 Journal Entry Accounts Date 31 Debit Credit Dec Requirement 2. Describe how each of the contingent liabilities in the selected December transactions would be treated in Driver's financial statements for 2019. (Select four answers.) A Dec 5 transaction will be footnoted as a contingent liability B. Dec 22 transaction will not be footnoted because it is unlikely to be a loss c. Dec 27 transaction will be reported as a liability on the balance sheet and a loss on the income statement Transaction will also be footnoted. D. Dec 22 transaction will be footnoted as a contingent liability E. Dec 31 transaction will be reported as a liability on the balance sheet and an expense on the income statement Transaction will also be footnoted. DF Dec 5 transaction will be reported as a liability on the balance sheet and an expense on the income statement Transaction will also be footnoted. 6. Dec 27 transaction will be reported as a liability on the balance sheet and an expense on the income statement Transaction will not be footnoted since is recorded on the financial statement H. Dec 31 transaction will be reported as a liability on the balance sheet and an expense on the income statement Transaction will not be footnoted since it is recorded on the financial statement Choose from any list or enter any number in the input fields and then continue to the next