On January 1 of 20Y2, Hebron Company issued a $127,000, five-year, 11% installment note to Ventsam Bank. The note requires annual payments of $34,362, beginning on December 31 of 20Y2. Journalize the entries to record the following transactions. Refer to the Chart of Accounts for exact wording of account titles 20Y2 Issued the note for cash at its face amount Jan. 1 Paid the annual payment on the note, which consisted of interest of $13,970 Dec. 31 and principal of $20,392. 20Y5 Dec. 31 Paid the annual payment on the note, which included $6,473 of interest. The remainder of the payment reduced the principal balance on the note. b. Journalize the entries to record the transactions for the year 20Y5. Refer to the Chart of Accounts for exact wording of account titles. Question not attempted. PAGE 15 ACCOUNTING EQUATION JOURNAL Score: 0/37 DESCRIPTION POST. REF CREDIT LIABILITIES EQUITY DATE DEBIT ASSETS 3 Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of sales. Assume that sales were $700,000 for January. On February 7, a customer received warranty repairs requiring $210 of parts and $65 of labor. Required: Journalize the adjusting entry required at January 31, the end of the first month of the a. current fiscal year, to record the accrued product warranty. Refer to the Chart of Accounts for exact wording of account titles b. Journalize the entry to record the warranty work provided in February. Refer to the Chart of Accounts for exact wording of account titles