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Journalize and post the following transactions Evaluation of the years sales indicated that warranties related to current years sales are estimated to be $ 3

Journalize and post the following transactions
Evaluation of the years sales indicated that warranties related to current years sales
are estimated to be $30,000.
The balance in notes payable is related to a 3-year 6% note signed on June 1,2024.
The annual liability insurance policy was renewed on August 1,2023. $3,000 was left from last year.
Office supplies on hand were $4,100 and store supplies on hand were $72,750.
Depreciation on the building is calculated using straight line with a 50 year life and $50,000 residual value.
Depreciation for the office equipment is calculated using double declining balance method, has
a five year life and it is expected to have a $5,000 residual value. Round to the nearest dollar.
Store equipment has an expected useful life of 4 years, no residual value and is being depreciated using
the straight line method. It was purchased on June 1,2023.
Payroll for June is going to be paid in early July. Salaries earned were $39,000. The FICA rate is 7.65%
and is paid by both the employee and the employer. Employee income taxes are withheld at a rate of 15%.Evaluation of the years sales indicated that warranties related to current years sales
are estimated to be $30,000.
The balance in notes payable is related to a 3-year 6% note signed on June 1,2024.
The annual liability insurance policy was renewed on August 1,2023. $3,000 was left from last year.
Office supplies on hand were $4,100 and store supplies on hand were $72,750.
Depreciation on the building is calculated using straight line with a 50 year life and $50,000 residual value.
Depreciation for the office equipment is calculated using double declining balance method, has
a five year life and it is expected to have a $5,000 residual value. Round to the nearest dollar.
Store equipment has an expected useful life of 4 years, no residual value and is being depreciated using
the straight line method. It was purchased on June 1,2023.
Payroll for June is going to be paid in early July. Salaries earned were $39,000. The FICA rate is 7.65%
and is paid by both the employee and the employer. Employee income taxes are withheld at a rate of 15%.
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