Question one: On March 1. Mena Company borrows $150,000 from High Country Bank by signing a 6-month, 8%, interest-bearing note. Instructions Prepare the necessary entries below associated with the note payable on the books of Mena Company (a) Prepare the entry on March 1 when the note was issued (b) Prepare any adjusting entries necessary on June 30 in order to prepare the semi- annual financial statements. Assume no other interest accrual entries have been made. (c) Prepare the adjusting entry at August 31 to accrue interest (d) Prepare the entry to record payment of the note at maturity, Question two: Sweet Baking Company sells professional grade mixers for home use. The machines carry a 2- year warranty. Past experience indicates that 6% of the units sold will be returned during the warranty period for repairs. The average cost of repairs under warranty is S70 for labor and S90 for parts per unit. During 2017, 2,500 mixers were sold at an average price of $800. During the year, 60 of the machines that were sold were repaired at the average price per unit. Instructions (a) Prepare the journal entry to record the repairs made under warranty (b) Prepare the journal entry to record the warranty expense for the year