CURRENT LIABILITIES ASSIGNMENT May 1st Company A borrows $ 17,000 from Northwest Provincial Bank It signs a 9 month 8% per annum, interest bearing note Company A has it year end August 31st Prepare the following necessary entries associated with the note payable on the book Company A description DR Cr principle interest term in mth mth to yr end mth from year end to 17000 8% date 9 issue 4 5 year end maturity warranty 1. Company A sold 27,000 items at a cost of $85 each. On average 11% are returned under warranty. It is estimated that returned items willl cost $38 to repair on average. a) Prepare the journal entry to record the estimated warranty expense for the year. (b)Prepare the journal entry to record the repairs made to 1,300 machines at the average cost of $13 for parts per unit and $25 in labour X = returned under warranty cost to repair items under warranty estimtated warranty units cost of warranty = (a) Prepare the journal entry to record the estimated warranty expense for the year. description Cr date DR (b)Prepare the journal entry to record the repairs made to 1,300 machines at the average cost of $13 for parts per unit and $25 in labour description DR Cr date