The accounting records of Water's Appliances included the following balances at the end of the period:

In the past, Waterlsarranty expense has been $8\%$ of sales. During the current period, the business paid $$5,000$ to satisfy the warranty claims.

Read the requirements.

Requirement $1.$ Journalize Water's warranty expense for the period and the company's cash payments to satisfy warranty claims. Explanations are not required.

Start by journalizing the warranty expense. $($Record debits first, then credits. Exclude explanations from journal entries.$)$

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