Warranty Liabilities A dealer sells a car for $82,000, on December 1, 2007, with a warranty for parts and labor for 12 months, or 15,000 miles. The dealership experiences an average warranty cost of 8% of the selling price of each car. GENERAL JOURNAL PAGE DATE DESCRIPTION PR. DEBIT CREDIT 0, December 31, 007 Borrowed $82,000 from the Shore Bank by signing a 12-month, zero-interest-bearing $68,000 note. GENERAL JOURNAL PAGE 1 DATE DESCRIPTION PR. I DEBIT CREDIT Game Pro Magazine sold 30,000 annual subscriptions on October 1, 2007, for $40 each. Prepare Game Pro's October 1, 2007, journal entry and the December 31, 2007, annual adjusting entry