Part 1:The company went to the bank to borrow $500000. You are required to negotiate the best deal. The Board of Directors has asked for you to justify your position.Part 2:Recent changes in the law require SPC to warranty its products for 90 days and you have set up the required accounts. Use the data provided to make the appropriate journal entries.Part 3:The company began an equipment replacement project and you were required to determine the Book Value of its fixed assets and make decisions regarding the purchase trades and disposition of various assets during the year. Use the data provided to record the transactions AND justify your decisions.