puts A. On 1 Dec. 2020, ABC Trading Co. borrowed $300,000 for 90 days at 5% by signing a note payable on the sentent Required: (1) Record the adjusting journal entry on 31 Dec. 2020, (2) Record the journal entry for the payment of the note at its maturity date B. Ahmed's Co offers warrant of two years on parts of machines. In 2020 the company sold machines for 240,000. In the light of its past experience, Alused warranty expense equals to 8% of its dollar sales. During 2020, the company used $10.500 of parts livestory to repair the machine Required: (1) Prepare the journal entry to record ONLY the waiaty liability in 2020. 2) How much is the amount of warranty liability on December 31, 2020 For the toolbar, press ALT F10 (PO) or ALT-FNF10 (Mac), I = 0 10pt V S Arial Paragraph TI > WOMEDY