INTERMEDIATE ACCOUNTING II DISCUSSION PROBLEM1 CURRENT LIABILITIES Rangers Corporation's beginning balances for selected accounts as ofJanuary i , 20X9 are provided below. RANGERS CORPORATION BEGINNING BALANCES FOR SELECTED LIABILITY ACCOUNTS AS OF JANUARY 1, 20x9 Estimated Warranty Liability Estimated Premiums Liability Compensated Absences Payable 2,500 500 5,500 Rangers Corporation had the atached summary transactions relating to its current liabilities during the first quarter of 20X9. REQUIRED: (1) Prepare general journal entries, in proper form, to record all transactions related to the information provided. Omit explanations. Round all calculations to the nearest whole dollar. Prepare the current liabilities portion of the balance sheet, in proper form, for the company for the quarter ending March 31, 20x9. (2)