Question: Jestion 3 5 points Save Ant A. (3 Grades) On November 2020, Sadaq Co borrowed $100,000 for 90 days at 92 by signing a note
Jestion 3 5 points Save Ant A. (3 Grades) On November 2020, Sadaq Co borrowed $100,000 for 90 days at 92 by signing a note Assume that the face value of the mote equals the principal of the loan Required: (1) The needed adjusting journal entry on 31 Dec. 2020. (2) The journal entry to record the payment of the note maturity date B. (2 Grades) lu Town Co. offers a two-year warranty on parts of equipments. In 2019 the company sales were $350,000. Based on its past ceniencethe company estimated the needed warranty expense equal to 5% of its sales. During 2019, the company used $7.500 of parts i entory to repair the equips Required (1) prepare the journal entry to record ONLY the warranty liability in 2019 (2) How much is the amount of warranty liability on December 31, 2019 For the toolbar, press ALT F10 (PC) or ALT-FN-F10 (Mac). B IVS Paragraph 14px DE A 2 T. % @ as Arial V 111
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