Very short multiple choice exercises

Normal No Spacing Heading 1 Heading 2 Title Subtitle a. C. AD = = = lv 1. During December, Vixen Company sells $863,000 in merchandise that has a one-year warranty, Warranty expense is estimated at 3% of sales. On January 5 of the following year, the merchandise requires repairs that are completed the same day. The repairs cost $15,300 for materials taken from parts inventory. The entry to record the repairs that occur on January 5 is: Debit Warranty Expense $10,590, credit Estimated Warranty Liability $10,590. b. Debit Estimated Warranty Liability $25,890; credit Warranty Expense $25,890. Debit Warranty Expense $15,300; credit Estimated Warranty Liability $15,300. d. Debit Estimated Warranty Liability S10,590; credit Parts Inventory $10,590. Debit Estimated Warranty Liability $15,300; credit Parts Inventory $15,300. 2.A company had interest expense of $3,600, income before interest expense and income taxes of $16,400, and net income of $6,800. The company's times interest earned ratio equals: a)0.53 b)2.41 c)0.22 d)1.89 e)4.56 3.On December 1, Victoria Company signed a 90-day, 7% note payable, with a face value of $8,400. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.) a)147 b)588 c)98 d)49 e) e