15 6 points eBook Saved Help Save & Exit Submit Check my work Mackenzie Corp. is preparing the December 31, 2023, year-end financial statements. Following are selected unadjusted account balances: Estimated warranty liability Income tax expense Mortgage payable, 5% $ 6,460 120-day note payable, 4% 118,800 Unearned revenues 440,000 Warranty expense $ 80,000 296,000 6,400 Print References Additional information: a. $10,800 of income tax was accrued monthly from January through to November inclusive and paid on the 15th day of the following the year is determined to be $126,040. month. The actual amount of tax expense for a b. A customer is suing the company. Legal advisers believe it is probable that the company will have to pay damages, the amount of which will approximate $140,000 given similar cases in the industry. c. During December, Mackenzie had sales of $710,000. 5% of sales typically require warranty work equal to 20% of the sales amount. d. Mortgage payments are made on the first day of each month. e. $111,500 of the Unearned revenues remain unearned at December 31, 2023. f. The 120-day note payable was dated November 15, 2023. 12C Mc Graw Hill Mostly clear Search < Prev 6 of 7 Score answer > 10:04 PM 9/4/2024