What would be the warranty liability at the end of the year


Strikers, Inc. sells soccer goals to customers over the Internet. History has shown that 3% of Strikers' goals are faulty and will need repair under the warranty program. For the year, Strikers has sold 4,600 goals and 49 have been repaired. If the estimated cost to repair a goal is $190, what would be the Warranty Liability at the end of the year?

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Accounting Basics: What would be the warranty liability at the end of the year
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