Problem 2 (8.5 points) Assume, that on October 3, 2020, Walmart, Inc., borrowed $3,200,000 cash from Bank of America to meet short-term obligations. Walmart signed a 3% note and promised to repay the note in 120 days. All interest will be paid when the note is due. Use 360-day year and round your answer to the nearest dollar. Required: 1. Find the maturity date of the note. Maturity date is: 2. Record the issuance of the note on October 3. 3. Record payment of the note and interest at maturity. Account Title Debit Credit Problem 3 (7.5 points) Pluto, Inc., sells its products with a one-year warranty. The estimated product warranty is 3% of sales. Assume that Pluto had sales of $284,000 during October this year. On November 12, a customer received warranty repairs requiring $72 of parts and $100 of labor. Required: 1. Record the adjusting entry to accrue warranty expense on October 31. 2. Record the journal entry for the warranty work provided in November. Account Title Debit Credit