2014: 1. On March 1, 2014, borrowed $47,000 cash from the local bank. The note had a 8 percent interest rate and was due on September 1, 2014 2. Cash sales for the year amounted to $230,000 plus sales tax at the rate of 7 percent. 3. Aliceville provides a 90-day warranty on the merchandise sold. The warranty expense is estimated to be 4 percent of sales. 4. Paid the sales tax to the state sales tax agency on $185,000 of the sales. 5. Paid the note due on September 1 and the related interest. 6. On October 1, 2014, borrowed $37,000 cash from the local bank. The note had a 7 percent interest rate and a one-year term , Soe0ank. The note had a 7 percent nterest rate and a one-year tem to maturity 7. Paid $3,100 in warranty repairs. 8. A customer has filed a lawsuit against Aliceville for $120,000 for breach of contract. The company attorney does not believe the suit has merit. Required a. Answer the following questions (1) What amount of cash did Aliceville pay for interest during the year? (Do not round intermediate calculation.) Cash paid for interest (2) What amount of interest expense is reported on Aliceville's income statement for the year? (Do not round intermediate calculations and round your final answer to nearest whole dollar amount. Interest expense (3) What is the amount of warranty expense for the year? Warranty expense