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required. Round to the nearest dollar. P11-28A Tournalizing liability transactions The following transactions of Jasmine Recf occurred during 2018: Reef is party to a patent infringement lawsuit of $190,000. Reefs attorney is certain it is remote that Reef will lose this lawsuit. Apr. 30 Jun, 30 Estimated warranty expense at 2% of sales of $350,000 Jul. 28 Warranty claims paid in the amount of $5,500 Sep. 30 Reef is party to a lawsuit for copyright violation of $80,000. Reef's attorney advises that it is probable Reef will lose this lawsuit. The attorney estimates the loss at $80,000. Reef estimated warranty expense on sales for the second half of the year Dec. 31 of $510,000 at 2%. Requirements 1. Journalize required transactions, if any, in Reef's general journal. Explanations are not required What is the balance in Estimated Warranty Payable assuming a beginning balance of S0? 2. P11-294Comnuting times-interest-earned ratio