Questions A On 1 Dec. 2020, ABC Trading Co. borrowed $300,000 for 90 days at 5% by signing a note payable on the same amount Required: (1) Record the adjusting journal entry on 31 Dec. 2020. (2) Record the journal entry for the payment of the note at 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 experime. Mune sales. During 2020, the company used $10,500 of parts inventory to repair the machine Required: (1) Prepare the journal entry to record ONLY the warranty liability in 2020. (2) How much is the amount of warranty liability on December 31, 2020 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). T. 10pt BI VS Paragraph Arial iii A v V acer 1080 5 points unt. In the light of its past experience, Ahmed's Co. estimated the needed warranty expense equals to 8% of ita dollar Ik % od as I