Estimated Warranty Liability Oven Roasted sold $223,000 of consumer electronics during July under a six-month warranty. The cost to repair defects under the warranty is estimated at 4% of the sales price. On November 10, a customer was given $232 cash under terms of the warranty. (a) Provide the journal entry for the estimated warranty expense on July 31 for July sales. If an amount box does not require an entry, leave it blank. July 31 Product Warranty Expense Product Warranty Payable Feedback (b) Provide the journal entry for the November 10 cash payment. If an amount box does not require an entry, leave it blank. Product Warranty Payable Cash Feedback Feedback Entries for notes payable Bennett Enterprises issues a $408,000, 30-day, 8%, note to Spectrum Industries for merchandise inventory. Assume a 360-day year. If required, round your answers to the nearest dollar. If an amount box does not require an entry, leave it blank. a. Journalize Bennett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. Inventory Notes Payable 2 Notes Payable Interest Expense Cash Feedback b. Journalize Spectrum Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 1. Notes Receivable Sales Cash Notes Receivable Interest Revenue Feedback Previous Check My Work