The accounting records of Audio - Video Inc included the following balances before the year-end adjustments (Click the icon to view the data) In the past, Audio - Video's warranty expense has been 6% of sales. During the current penod, the business paid $9.400 to satisfy the warranty claims of cistomers Required 1 Record Audio Video's watranty expense for the period and the company's cash payments to satisfy warranty chains Explanations required 2 Show everything Audio - Video will report on its income statement and balance sheet for this station Which data item from Requirement 2 will affect Audio - Video's current sto? Will Audio Video's current ratio increase or decrease as a result of this? Requirement 1. Record Audio - Video's Warranty expense for the period and the company's cash payments to satisfy warranty claims (Record debits first the credits Begin by recording the warranty expense General Journal Data Accounts Debit Credit