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THE FOLLOWING TRANSACTIONS OF SAMUEL JAMES OCCURED DIRING 2024:

The following transactions of Samuel James occurred duting 2024 (1) (Cick the icon to view the transactions) Requirements 1. Journalize required transactions, if any, in James's general joumal Explanations are not required 2. What is the balance in Estimated Warranty Payable assuming a beginning balance of $0 ? Requirement 1. Joumalize required transactiont, if any, in James's general journal Explanations are not required. (Record dobits first, then credits Exclude explanatons trom jourma entries. For transactions that do not require an entry, make sure to select No entry roquired" in the firnt cell in the "Accouns" column and leave al other ceks blank) Apr. 30: James is party to a patent infringement lawsuit of $160,000 Jamos's attorney is certain it is remoto that James will tose this larnuit Apr. 30 James is party to a patent infringement lawsuit of $160,000. James's attorney is certain it is remote that James will lose this lawsuit: Jun. 30 Estimated warranty expense at 4% of sales of $420,000 Jul. 28 Warranty claims paid in the amount of $6,200 Sep. 30 James is party to a lawsuit for copyright violation of $90,000. James's attomey advises that it is probable James will lose this lawsuit. The attorney estimates the loss at $90,000. Dec. 31 James estimated warranty expense on sales for the second half of the year of $540,000 at 4%

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