Question: Moving to another question will save this response. Question 1 A. (3 Grades) On November 1, 2020, Sadiq Co. borrowed $800,000 for 90 days at

Moving to another question will save this response. Question 1 A. (3 Grades) On November 1, 2020, Sadiq Co. borrowed $800,000 for 90 days at 9% by signing a note. Assume that the face value of the note 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 at maturity date. B.(2 Grades) Isa Town Co. offers a two-year warranty on parts of equipments. In 2019 the company sales were $700,000. Based on its past experience, the company During 2019, the company used $15,000 of parts inventory to repair the equipment. Required: (I) 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). T. Arial 14px BI V S Paragraph 14px O WORDS POWERED BY TIN Question 1 of 1 MacBook Air

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