E8-25B. (Learning Objective 4: Account for warranty expense and the related liability) The accounting records of Carmen Appliances included the following balances at the end of the period: Accrued Warranty Payable Beg bal 5,500 Sales Revenue Warranty Expense 104,000 In the past, Carmen's warranty expense has been 8% of sales. During the current period, the business paid $7,500 to satisfy the warranty claims. Requirements 1. Journalize Carmen's warranty expense for the period and the company's cash payments to satisfy warranty claims. Explanations are not required. at the end of the period. ratio increase or decrease due to this item? 2. Show what Carmen will report on its income statement and balance sheet for this situation 3. Which data item from requirement 2 will affect the current ratio? Will Carmen's current