The accounting records of Claytown Ceramics included the following at January 1, 2016 Estimated Warranty Payable 2000 Beg Bal In the past, Claytown's warranty expense has been 7% of sales. During 2016, Claytown made sales of $110,000 and paid $5,000 to satisfy warranty claims Requirements 1. Journalize Claytown's warranty expense and warranty payments during 2016. Explanations are not required. 2. What balance of Estimated Warranty Payable will Claytown report on its balance sheet at December 31, 2016? Requirement 1. Joumalize Claytown's warranty expense and warranty payments during 2016. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the warranty expense Date Accounts and Explanation Debit Credit 2016 Journalize the warranty payments Date Accounts and Explanation Debit Credit 2016 show the ending balance of Requirement 2. What balance of Estimated Warranty Payable will Claytown report on its balance sheet at December 31, 2016? Use the T-account to determine the ending balance for the Estimated Warranty Payable account. Use an "End Bal. ting reference the account. The beginning balance (Beg Bal.) has been entered for you. Estimated Warranty Payable 2.000 Beg Bal Choose from any list or enter any number in the input fields and then continue to the next question ? +