The accounting records of Kittredge Caps showed a balance of $7,000 in Estimated warranty payable at December 31, 2017. In the past, Kittredge Caps' warranty expense has been 7 percent of sales. During 2018, Kittredge Caps made sales of $336,000 on account and paid $10,000 to satisfy warranty claims. Read the requirements Requirement 1. Journalize Kittredge Caps' sales, warranty expense, and cash payments made to satisfy warranty claims during 2018. Explanations are not required. Ignore cost of goods sold. (Record debits first, then credits. Exclude explanations from any journal entries.) Journalize Kittredge Caps' sales. Ignore cost of goods sold. Journal Entry Date Accounts Debit Credit Journalize the warranty expense. Journal Entry Date Accounts Debit Credit Journalize the warranty payments. Journal Entry Accounts Date Debit Credit Requirement 2. What balance of Estimated warranty payable will Kittredge Caps report on its balance sheet at December 31, 2018? What amount of warranty expense will Kittredge Caps report on its income statement for the year ended December 31, 2018? Use the T-account to determine the ending balance for the Estimated warranty payable account that Kittredge Caps will report on its balance sheet at December 31, 2018. Select the appropriate description as a posting reference for each amount you enter into the T-account. Estimated warranty payable Beg bal 7,000 What amount of warranty expense will Kittredge Caps report on its income statement for the year ended December 31, 2018? The company will reports of warranty expense on its income statement Choose from any list or enter any number in the input fields and then continue to the next