The following transactions of

Belkin Howe

occurred during

2024:

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Requirements

1.	Journalize required transactions, if any, in Howe'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

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

$230,000.

Howe's

attorney is certain it is remote that

Howe

will lose this lawsuit.

Date			Accounts	Debit	Credit
Apr. 30

Apr. 30

Howe is party to a patent infringement lawsuit of $230,000. Howe's attorney is certain it is remote that Howe will lose this lawsuit.

Jun. 30

Estimated warranty expense at 3% of sales of $390,000.

Jul. 28

Warranty claims paid in the amount of $6,300.

Sep. 30

Howe is party to a lawsuit for copyright violation of $90,000. Howe's attorney advises that it is probable Howe will lose this lawsuit. The attorney estimates the loss at $90,000.

Dec. 31

Howe estimated warranty expense on sales for the second half of the year of $520,000 at 3%.