The accounting records of Off the Wheel Ceramics included the following at January 1, 2016:

Estimated Warranty Payable

5,000

Beg. Bal.

In the past, Off the Wheel's warranty expense has been 5% of sales. During 2016, Off the Wheel made sales of $158,000 and paid $9,000 to satisfy warranty claims.

Requirements

1. Journalize Off the Wheel's warranty expense and warranty payments during 2016. Explanations are not required.

2. What balance of Estimated Warranty Payable will Off the Wheel report on its balance sheet at December 31, 2016?

This uestion This Our z pas possible o The accounting records of Of the Wheel Ceramics included the following at January 1, 2016 Estimated Warranty Payable 5,000 Beg B in the past or the Wheef's warranty expense has been 5% of sales. During 2016, or ne Whee mase sales of $156,000 and paid $2,000 to wataty warranty claims Requirements 1. Journal of the Wheels warranty expense and warranty payments during 2016. Explanations are not required 2. What balance of Estimated Warranty Payable will off the Wheel report on iis balance sheet of December 31, 20167 2010 Requirement 2. What balance of Extintas Wawrty Payable wil of the Wheel report on ts betence stoet of December 31, 20167 Use the account to determine the ending balance for the estimates Warranty Payable account. Use an "End, B, postog reference to show the ending balance of a cout. The beginning brance eg. Walhas been entered for you Estimated Warranty Payable 5.000 Bogel Con immer within a manninn than The accounting records of Of the Wheel Ceramics included the following at January 1, 2018 Estimated Warranty Payable 5.000 BB In the part of the Wheet's warranty expense has been 5% of sales. During 2016, on se Wheel mate sale of $18.000 and paid $9.000 to sataty warranty claims Requirements 1. Joumalize of the Wheef's warranty expense and warranty payments during 2016. Explanations are not requred. 2. What balance of Estimated Warranty Payable will off the Wheel report on its balance sheet of December 31, 20167 Requirement 1. Journals on the Wheers warranty expense and warranty payment curs 2016. Belanitor we not required. Roerd duties that non credits. Dcluso explanations from ournal restes.) Journalize the warranty pense Date Accounts and explanation Crede 2016 Debit Journalize the warranty payments Date Accounts and Explanation 2016 Debit Credit Choose from any list or enter any number in the input fields and then continue to the next