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Its warranty expense is calculated as 1 of sales sales in

Question- Carpenter Inc. had a balance of $80,000 in its warranty liability account as of December 31, 2012. In 2013, Carpenter's warranty expenditures were $445,000. Its warranty expense is calculated as 1% of sales. Sales in 2013 were $40 million. What was the balance in the warranty liability account as of December 31, 2013?

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Accounting Basics: Its warranty expense is calculated as 1 of sales sales in

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Accounting Basics: Its warranty expense is calculated as 1 of sales sales in

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