TIA!

You have been engaged to review the financial statements of Martinez Inc in the course of your investigation you find a number of irregularities during the current year. 1. Insurance for 6 month period purchased on October 1 of this year was charged to prepaid insurance in the amount of $6,000. 2. Year-endestimate of bonuses totaled $72,000 and was not recorded bscause the payment would not be made until next year- 3. War ranty expense averages 5% on current year sisles of $5,900,000. Warranty expense is automatically debited for 5% of each sale, During the current year, the company also paid $268,200 in warranty wlated claims. The bookke eper thought that the payments were an expense and debitod warianty expense. 4. Otfice rent is paid quarterly in advance. The first quarter cent for next year ($30,000) was paid in December and rent expense was debited. Prepare the necessary correcting entries, assuming that Martinez inc uses a calendar year bakis. (Credit account titles are outomaticaily indented when amount is entered. Do not indent manually. If no entry is requilred, select "No Entry" for the occount titles and enter Ofor the amounts] Prepare the necessary correcting entries, assuming that Martinez Inc uses a calendar-year basis. (Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.)