Question: Moving to another question will save this response. Question 9 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 9 A.
(3 Grades) On November 1, 2020, Sadiq Co borrowed $800,000 for 90

Moving to another question will save this response. Question 9 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 pas equipment Required: (1) prepare the joumal 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 (Por ALT+FN+F10 (Mac), B IVS Paragraph Arial v 14px > A Question of 12 5 points y estimated the needed warranty expense equal to 5% of its sales. During 2019, the company used $15.000 of parts inventory to repair the Q 5 = 23 x X, STT -- +

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!