Exercises Lab All of the A and B exercises can be found within MyAccountingLab, an online home- work and practice environment. Your instructor may ask you to complete these exercises using MyAccountingLab. Group A E9-16A. (Learning Objective 1: Account for warranty expense and the related liability) The accounting records of Dee's Appliances included the following balances at the end of the period: Estimated Warranty Payable Sales Revenue Warranty Expense Beg bal 4,500 108,000 In the past, Dee's warranty expense has been 8% of sales. During the current period, the business paid $7,100 to satisfy the warranty claims. Requirements 1. Journalize Dee's warranty expense for the period and the company's cash payments to satisfy warranty claims. Explanations are not required. 2. Show what Dee's Appliances will report on its income statement and balance sheet for this situation at the end of the period. 3. Which data item from requirement 2 will affect Dee's current ratio? Will Dee's current ratio increase or decrease as a result of this item? E9-17A. (Learning Objective 1: Record and report current liabilities) Wortham Publishing completed the following transactions for one subscriber during 2014: Oct Sold a one-year subscription, collecting cash of $1,800, plus sales tax of 9%