Explain the accounting treatments for the following situations:a$)$ Chillex Sdn Bhd is a company engaged in manufacturing refrigerators. The company giveswarranties at the time of sale to its customers. A five$-$year warranty is given on the engine anda one$-$year warranty on other minor parts of the refrigerator. Based on past experience, it isprobable that there will be some claims under the warranties.b$)$ Bina Bhd owns a building worth RM$2$ million. The company plans to carry out a majorrenovation on the building in the year $2008.$ The Board of Directors suggested a provision of$2\%$ to be made on the premises to cover the renovation expenses in future.c$)$ During the financial year, Flex Bhd sold goods with a warranty under which the company willrepair any defects that become apparent within the first six months after purchase. Based onpast experience, it is estimated that if minor defects were detected on all goods sold, repaircosts of RM$100,000$ would result, but if major defects were detected for all the goods sold,repair costs of RM$500,000$ would result. For the current year, the company expects $80\%$ ofthe goods sold to have no defects, $15\%$ with minor defects and $5\%$ with major defects.