Sad Describe the transaction of each of the following journal entries (Total: 12 pts) NO Credit Date Aug 16 General Journal Cash Sales Debit 7,000 7,000 2 Aug 16 3,500 Cost of Goods Sold Merchandise inventory 3.500 3 Dec 31 350 Warranty Expense Estimated warranty liability 350 4 Dec 31 67.925 Employee bonus expense Bonus payable 67.925 Jan 05 Estimated warranty liability 137 This question will be sent to your instructor for grading.