Mackenzie Corp. is preparing the December 31, 2020 year end financial statements. Following are selected unadjusted account balances Les imated warranty liabisty $ 8,470 130-day Robe payable, 5 119,00 earned teenues 115. Warranty expense fat.000 297, DDD 6,500 Mortgage payable.ch Additional information ..$10.900 of income tax was accrued monthly from January through to November inclusive and paid on the 15th day of the following month. The actual amount of tax expense for the year is determined to be $127.040. b. A customer issuing the company. Legal advisers believe it is probable that the company will have to pay damages, the amount of which will approximate $141000 given similar cases in the industry. c. During December. Mackenzie had sales of $71.000.4% of sales typically require warranty work equal to 25% of the sales amount d. Mortgage payments are made on the first day of each month e. 5111,600 of the Unearned Revenues remain unearned at December 31, 2020 1. The 120-day note payable was dated November 15, 2020 Required: 1. Prepare any requred adjusting entries at December 31, 2020, for each of the above (Use 365 days a year. Do not round Intermediate calculations and round the final answers to 2 decimal places.) 1 2 3 4 5 6 Record the accrual of income tax payable. Note: Enter debits before credits. Date General Joumal Debit Credit Dec 31 Record entry Clear entry View general journal 2. Determine the adjusted amounts for total liabilities and profit assuming these were $941,000 and $621,000, respectively, prior to preparing the adjustments in (a) to (1) above (Round Intermediate calculations and the final answers to 2 decimal places.) Total liabilities Pratit Analysis Component: What is the effect on the income statement and balance sheet If the above entries are not recorded? (Enter all value as positive values. Round Intermediate calculations and the final answers to 2 decimal places.) Liabilities Profit Mackenzie Corp. is preparing the December 31, 2020. year-end financial statements. Following are selected unadjusted account balances Estimated warranty liability Income tax expense Mortgage payable, 6 $ 6, 470 119,900 445,000 120-day note payable, 5+ Unearned revenues Warranty expense $ 81,000 297,000 6,500 Additional Information: a. $10,900 of income tax was accrued monthly from January through to November inclusive and paid on the 15th day of the following month. The actual amount of tax expense for the year is determined to be $127.040. b. A customer is suing the company. Legal advisers believe it is probable that the company will have to pay damages, the amount of which will approximate $141,000 glven similar cases in the indust, c. During December, Mackenzie had sales of $711,000.4% of cales typical require warranty work equal to 25% of the sales amount d. Mortgage payments are made on the first day of each month e. $111,600 of the Unearned Revenues remain unearned at Decem f. The 120-day note payable was dated November 15, 2020. Required: 1. Prepare any required adjusting entries at December 31, 2020, for each of the above. (Use 365 days a year. Do not round Intermediate calculations and round the final answers to 2 decimal places.) Required: 1. Prepare any required adjusting entries at December 31, 2020, for each of the above. (Use 365 days a year. Do not round Intermediate calculations and round the final answers to 2 decimal places.) View transaction list Journal entry worksheet 2 3 4 5 6 Record the accrual of provisional loss against lawsuit. Note: Enter debits before credits. Date General Journal Debt Dec 31 Legal loss Legal liability Record entry Clear entry View general journal 2. Determine the adjusted amounts for total liabilities and profit assuming these were $941,000 and $621,000, respectively, prior to preparing the adjustments in (a) to (f) above. (Round Intermediate calculations and the final answers to 2 decimal places.) Total liabilities Profit Analysis Component: What is the effect on the income statement and balance sheet if the values. Round Intermediate calculations and the final answers to 20 ale noirecorded? (Enter all value as positive Liabilities Profit