Question four (Q4) : Superior skatebiourd Company, locited in Ontario, is preparing adjusting entries at December 31,20293 . An anialvis reveake the followingt: a. During December, Superior sold 6,500 shetebaards that carry a 60 -day warranty, The skatebourd sales totalled $390,000. The compary expects 83 of the skateboards wial need repair under warrenty and it estimater that the averege repair cost per unit will be $38. b. An employee is suing the company. Legal advisers believe that it is probable that superior will have to pay damages, the aqnount of which cannot be rearonably eitimated. c. Superior needs to record previously uniecordod cash sales of $2,100,000 (cost of roods sold is 65\%) plus applicable 13% hist. d. Superior recogntaes that $95,000 of $160,000 received in advance for skateboards has now been eamed. e. Superior credit sales for the year was $100,000, It estimates that 5% of the credit sales are uncollectible. No bad debt expense has been recorded. Q4 Required: Prepare any required adjusting entries at December 31, 2023, for each of the above transactions in the worisheet below. If no entry is required for a transaction/event, type "No fournal entry required in the first account fieid.) Inatructfons: a) flelow are four (4) questions for this exam that studerits have to ansmer in the spaice (culls) culoeed green for eiach quastion. b) You neeed to seroll down this warksheet to see each of the 4 quarstions c) Where relevenc. possible accounts that yau can use to prepare journal entries are providod. No need to previde descriptoion for your journal entrie- e) If nocossary show your supperting calcuations in the space peovided for each queation as to how you derived youir anewers lie. thipgres. f) Round decimaks insto whole dollars when entering your final answers. Carh sules: Warranty Experise Estimated Warranty Ilabinity. Bad Debt Experse Accumpulated Depreciation Uriearned Product Revencie Allowance for Doubtful Accounts Earned Product Revenue: HST Paryable Property Pant and Equipment Cost of Goods Sold Iriventory