Problem 9-22A (Algo) Current liobilities to 9-1, 9-2, 9-3, 9-4 1 On Febnary 1 , Year 1 , borrownd $55,000 cash fiom the local bank. The note had a 6 percent interest rate and was due on June 1 Year 1 2. Carsh seles for the your amounted to $225,000 pius sules tax at the rote of 6 percem. 3. Ripley provides a 9o day warianty on the fretchandise sold. The warranty expense is estimated so be 4 percent of sales. 4. Phid the saves tax to the state sales tax apency on $205000 of the sales 5. Paid the note due on June land De related interes? malurity 7. Pad $4.000 in watranty zepours hos mere Required a. Answer the followong quersions. (1) What amount of cash did Ripley pay for inderest during Voar 1 ? (2) What ansount of interest espense is reported on fopleys income statement for kea I? (3) What is the amount of warranty expecse for Year ? b-1. Post the liabities transactians to T-accounts ar December 3t. rear 1 b-2. Prepare the current labilies section of the balance shect at December 31 , Year 1 Comptete this question by entering your answers in the tabs below