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Question 5: Jenny's Manufacturing Inc, obtained a bank loan to purchase new equipment on June 1, 2022. The loan was for $280,000 and bears interest

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Question 5: Jenny's Manufacturing Inc, obtained a bank loan to purchase new equipment on June 1, 2022. The loan was for $280,000 and bears interest at 9% per year. There will be monthly principal payments of $4,000 to be made on the first day of each month, payments don't begin until August 1, 2022. Jenny's Manufacturing Inc's year end is July 31, 2022. 5A. What is the interest payable as of year end? ( 1 mark) 5B. What is the current portion of long-term debt? What is the long-term debt? (1 mark) Question 5C: Jewel's Accessories manufactures electronics and provides a warranty on all products sold. Based on past research and experience, they have determined that of all units sold, 3.5% will require warnanty work. Each unit that requires warnanty work would cost the company an average of $6.95 per unit. For the year ended August 31,2022 they sold 132,000 units. What liability should be recorded for warranty expense? ( 1 mark) Question 5D: Brett's Books acquires 95% of Nasst's Comics Ltd. and 85% of Kirk's Coffee Inc. and provides you with the following net income (loss) in formation. Using this information, what should the total combined net income(loss) be? (1 mark) Question 5E: If Brett's Books has the following share information, what entry would be needed to record a dividend payable of $812,500 on October 31, 2022? Be sure to provide details of each type of dividend that is payable for each class of shares, but no description is needed. (1 mark) Question 5E: If Brett's Books has the following share information, what entry would be needed to record a dividend ayable of $812,500 on October 31,2022 ? Be sure to provide details of each type of dividend that is payable for each lass of shares, but no description is needed. (1 mark)

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