A corporation issued 2,700 shares of its no par common stock at a cash price of $12 per share. The entry to record this transaction would be:

On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $17,100. What is the maturity value (principal plus interest) of the note on March 1?

Note: Use 360 days a year.

National Insurance Company has 200,000 shares authorized, 166,000 shares issued, and 30,000 shares of treasury stock. The number of shares outstanding is:

During December, Vixen Company sells $851,000 in merchandise that has a one-year warranty. Warranty expense is estimated at 4% of sales. On January 5 of the following year, the merchandise requires repairs that are completed the same day. The repairs cost $14,100 for materials taken from parts inventory. The entry to record the estimated warranty liability at the end of December is: