Question 3 5 points Save Answer A. (3 Grades) On November 1, 2020, Sadiq Co. borrowed $800,000 for 90 days at 9% by signing a note. Assume that the face value of the note equals the principal of the loan. Required: (1) The needed adjusting journal entry on 31 Dec. 2020. (2) The journal entry to record the payment of the note at maturity date. B. (2 Grades) Isa Town Co. offers a two-year warranty on parts of equipments. In 2019 the company sales were $700,000. Based on its past experience, the company estimated the needed warranty expense equal to 5% of its sales. During 2019, the company used $15,000 of parts inventory to repair the equipment. Required: (1) prepare the journal entry to record ONLY the warranty liability in 2019. (2) How much is the amount of warranty liability on December 31, 2019 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI U S Paragraph Arial 14px TK a