The following transactions of Belkin Howe occurred during 2024: i (Click the icon to view the transactions.) Requirements 1. 2. Journalize required transactions, if any, in Howe's general journal. Explanations are not required. What is the balance in Estimated Warranty Payable assuming a beginning balance of $0? More info Apr. 30 Jun. 30 Jul. 28 Sep. 30 Dec. 31 Howe is party to a patent infringement lawsuit of $170,000. Howe's attorney is certain it is remote that Howe will lose this lawsuit. Estimated warranty expense at 3% of sales of $420,000. Warranty claims paid in the amount of $5,600. Howe is party to a lawsuit for copyright violation of $150,000. Howe's attorney advises that it is probable Howe will lose this lawsuit. The attorney estimates the loss at $150,000. Howe estimated warranty expense on sales for the second half of the year of $520,000 at 3%. Print Done Requirement 1. Journalize required transactions, if any, in Howe'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: Howe is party to a patent infringement lawsuit of $170,000. Howe's attorney is certain it is remote that Howe will lose this lawsuit. Date Apr. 30 Accounts Jun. 30: Estimated warranty expense at 3% of sales of $420,000. Date Jun. 30 Accounts Debit Credit Debit Credit Jul. 28: Warranty claims paid in the amount of $5,600. Date Jul. 28 Accounts Debit Credit Sep. 30: Howe is party to a lawsuit for copyright violation of $150,000. Howe's attorney advises that it is probable Howe will lose this lawsuit. The attorney estimates the loss at $150,000. Date Accounts Debit Credit Sep. 30 Dec. 31: Howe estimated warranty expense on sales for the second half of the year of $520,000 at 3%. Date Dec. 31 Accounts Debit Credit 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