problem 1 Parker Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of sales. Assume that sales were $312,000 for January. In February, a customer received warranty repairs requiring $330 of parts and $80 of labor.

For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty.

b. Journalize the entry to record the warranty work provided in February.

problem 2

The payroll register for Gamble Company for the week ended April 29 indicated the following:

Salaries	$1,420,000
Social security tax withheld	85,200
Medicare tax withheld	21,300
Federal income tax withheld	284,000

In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $266,000 of salaries.

Required:

A.

Journalize the entry to record the payroll for the week of April 29.*

B.

Journalize the entry to record the payroll tax expense incurred for the week of April 29.*