Note, Warranty, Sales Tax $-$ practice$-$Patagonia CompanySelected transactions of Patagonia Company are described below.Required:Using the information provided, record the following journal entries. When calculating interest, do not round intermediate amounts, but do round the final amount to the nearest dollar. Use a $365-$day year. Patagonia offers a $1-$year warranty on the merchandise it sells$\mathrm{.}1.$ Patagonia Company borrowed $$28,000$ from Fifth State Bank by signing a $5\%,180-$day note datedSeptember $16,2025\mathrm{.}2.$ Dec$31--$ In $2025,$ Patagonia Company had sales of $$120,000.$ The cost of the merchandise sold was $$78,000.$ Record the sales and cost of sales in two separate entries. Assume that all sales were for cash$\mathrm{.}3.$ Dec $31-$ In $2025,$ Patagonia Company had sales of $$120,000.$ The cost of the merchandise sold was $$78,000.$ Record the sales and cost of sales in two separate entries. Assume that all sales were for cash$\mathrm{.}4.$ Dec $31--$ The state charges $4\%$ sales tax. Record the sales tax collected on $2025$ sales, to be remitted to the state Department of Revenue in January$\mathrm{.}5.$ Dec $31--$ Recorded the adjusting entry to recognize the estimated warranty expense associated with the$2025$ sales. Estimated that warranty expense will be $7\%$ of sales$\mathrm{.}6.$ Dec $31--$ Recorded the adjusting entry for accrued interest on the note$\mathrm{.}7.$ Jan $15--$ Paid the sales taxes collected on $2025$ sales to the state Department of Revenue$\mathrm{.}8.$ Feb $3--$ Performed a warranty repair. The cost of the replacement parts was $$64\mathrm{.}9.$ Mar $15--$ Paid the maturity value of the note due Fifth State Bank.