Instructions Clean Corporation manutactures and sels dishwashers, Clean provides all customers with a two year warranty guaranteeing to repair, free of charge, any detects reported during this time period. During the year, it sold 100.000 dishwashers for $325 each. Analysis of past warranty records indicates that 12% of all sales will be returned for repair within the warranty period. Clean expects to incur expenditures of $14 to repair each dishwasher. The account Estimated Liability for Warranties had a balance of $120,000 on January 1. Clean incurred $150,000 in actual expenditures during the year. Chart of Accounts X Required: UNANI U HUUUURIS Prepare a una entries nossary to record the events related to the warranty transactions Clean Corporation during the year. Determine the adjusted ending balance in me Estimated Liability for Warranties Final Question X General Ledger account General Joumal REVENUE 411 Sales 2 Determine the adjusted ercing balance in the Estimated Liability for Warranties Account 1. Prepare al journal entries with the impact on the financial statements necessary to record the events related to the warranty transactions during the year on December 31. Assume credit sales and inventory expenditures for actual warranty costs incurred. ASSETS 111 Cash 121 Acoounts Receivable 141 Inventary 152 Prepaid Insurance 154 Suppies 174 Equipment 179 Accumulated Depreciation Erdng Halance - General Journal Instrucnans PAGE 1 IMPACT ON FINANCIAL STATEMENTS BALANCE SHEET INCOME STATEMENT EXPENSES 500 Cast of Goods Sold 521 Salaries and Wages Expense 525 Warranty Expense 532 Utilities Expense 533 Insurance Expense 534 Rent Expense 537 Supplies Expense 541 Depreciation Expense 551 Advertising Expense 559 Miscellaneous Expenses 810 Interest Expense 910 Income Tax Expense LIABILMES 211 Accounts Payable 231 Salaries and Wages Payable 235 Notes Payable 253 Estimated Liability for Warranties 281 Income Taxes Payable GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT ASSETS LIABILITIEQUITY REVENUFEXPENSESNCOME NET 1 2 1 4 EQUITY 311 Capital Stock 331 Retained Eamings 5 6