P11-28A Journalizing liability transactiun The following transactions of Jasmine Reef occurred during 2018: Apr. 30 Reef is party to a patent infringement lawsuit of $1 attorney is certain it is remote that Reef will lose this la Estimated warranty expense at 2% of sales of $350,000. Warranty claims paid in the amount of $5,500. Reef is party to a lawsuit for copyright violation of $80.00 a attorney advises that it is probable Reef will lose this lwsef attorney estimates the loss at $80,000. Jun.30 Jul. 28 Sep. 30 se this lawsuit for the second half of the Dec. 31 Reef estimated warranty expense on sales of $510,000 at 2%. we Requirements 1. Journalize required transactions, if any, in Reef's general journal. Explanationg n t required. no 2. What is the balance in Estimated Warranty Payable assuming a beginning balan: of S0P