1.Fenton Enterprises sells refrigerators for $1,000 with a 90-day warranty against defects. Senior management indicates that 12% of the refrigerators will have some defect during the warranty period and that the necessary repairs and adjustments will cost 5% of the original selling price per defective unit. Sales for the first quarter were $350,000. Exactly 10 units were reported defective and repaired in during the quarter. What is the March 31 journal entry to record the estimated remaining warranty liability for units sold during the first quarter? Note: March 31 is the end of the reporting period and Brandmart has not yet recorded a journal entry related to warranty expense for this quarter. $500 Product Warranty Expense Estimated Liability for Product Warranty $500 $2,100 Product Warranty Expense Estimated Liability for Product Warranty $2,100 $1,600 Product Warranty Expense Estimated Liability for Product Warranty $1,600 Estimated Warranty Liability for Product Warranty $500 Product Warranty Expense $500 2. Pepper Co. issued a 90-day note payable for $325,000 on November 1, 2019 with an annual interest rate of 12%. Assuming a 360-day year, what amount of interest has accrued as of December 31, 2019? What is the total amount of interest that will be paid on this note (including 2019 and 2020)?| a. $3,250 for 2019; $6,500 in total b. $6,500 for 2019; $39,000 in total c. $3,250 for 2019; $39,000 in total d. $6,500 for 2019; $9.750 in total 3. The stockholders' equity section of Home Place displayed the following balances: Common Stock - $15 par value, 25.000 shares issued and outstanding $375,000 Paid-in Capital in excess of par value, common stock $5, 140,000 Retained Earnings $4, 140,000 The company declared a 10% stock dividend on a day when the stock's market value was $610 per share. The journal entry on this day will include: a. A debit to Retained Earnings for $37,500 b. A credit to Stock Dividends Distributable for $1,525,000 c. A credit to Stock Dividends Distributable for $37,500 d. A credit to Paid-in capital in excess of par value for $1,525,000