Prepare the journal entries for the following transactions (they are unrelated, unless otherwise stated) a Warranty liability - sold 400 products that have a 1-year warranty. Each products estimated warranty cost is $25, and based on historical information it is estimated that 11% of the products will incur the warranty cost b Sold merchandise for $2,400 cash, the cost of the merchandise is $1,700, and the sales tax, which is NOT included in the price above, is 6%. Purchased equipment that is worth $10,000 by issuing a note payable. The note is due in 2 months and carries a 7% interest rate d Paid off the note payable listed in "c" above Date Account Titles and Explanation Debit Credit