The following transactions of Acer Downy occurred during 2024: (Click the icon to view the transactions.) Requirements 1. Journalize required transactions, if any, in Downy's general journal. Explanations are not required. 2. What is the balance in Estimated Warranty Payable assuming a beginning balance of $0? Requirement 1. Journalize required transactions, if any, in Downy's general journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. For transactions that do not require an entry, make sure to select "No entry required" in the first cell in the "Accounts" column and leave all other cells blank.) Apr. 30: Downy is party to a patent infringement lawsuit of $240,000. Downy's attorney is certain it is remote that Downy will lose this lawsuit. Accounts Credit Date Debit Apr. 30 Jun. 30: Estimated warranty expense at 3% of sales of $440,000. Date Accounts Debit Credit Jun. 30 Jul. 28: Warranty claims paid in the amount of $6,500. Date Accounts Debit Credit Jul. 28 Sep 30: Downy is party to a lawsuit for copyright violation of $150,000. Downy's attorney advises that it is probable Downy will lose this lawsuit. The attorney estimates the loss at $150,000 Date Accounts Debit Credit Sep. 30 Dec. 31: Downy estimated warranty expense on sales for the second half of the year of $480,000 at 3%. Date Accounts Debit Credit Dec. 31 Requirement 2. What is the balance in Estimated Warranty Payable assuming a beginning balance of $0? Use the T-account to determine the ending balance for the Estimated Warranty Payable account. Use a "Bal" posting reference to show the ending balance of the account. Estimated Warranty Payable Apr. 30 Jun. 30 Jul. 28 Downy is party to a patent infringement lawsuit of $240,000. Downy's attorney is certain it is remote that Downy will lose this lawsuit. Estimated warranty expense at 3% of sales of $440,000. Warranty claims paid in the amount of $6,500 Downy is party to a lawsuit for copyright violation of $150,000. Downy's attorney advises that it is probable Downy will lose this lawsuit. The attorney estimates the loss at $150,000 Downy estimated warranty expense on sales for the second half of the year of $480,000 at 3%. Sep. 30 Dec. 31