Accrual for Interest Expense, Warranty Accounting Renuka Corp. has manufactured a broad range of quality products since 1991. The following information is available for the company's fiscal year ended Febr 2021. Renuka follows ASPE Renuka has several notes payable outstanding, all notes have been issued to mature in one year. In each case, the annual interest is due on the anniversary d the note each year (same as the due dates listed). The information on Notes are given below. Renuka provides 2 years of standard warranty on all its products, and customers can purchase 2 years of additional warranty (extended warranty) for $40. Av selling price of Renuka's products is $75. Renuka estimates that 1.5% of its products sold will return for warranty claims within the first two years. It is also es that average warranty repair cost is $22. Renuka's sales figures and warranty information are given below. Note: Due Date Principal Amount Interest Rate A 01-Apr-21 B 31-May-21 160,000 3% 200,000 2.20% C 15-Nov-21 350,000 1.65% Space for showing work Assume that all warranty related J/E is done on last day of the fiscal year. Show the entries that will be entered into Warranty Liability t-account and determine end of year balances. 01-Mar-18 28-Feb-19 01-Mar-19 28-Feb-20 01-Mar-20 Full Mark Warranty Liability Mark Rcvd 37,300.00 balance entries 4 balance entries balance 28-Feb-21 entries 01-Mar-21 balance 24244