What is a warranty liability what is the purpose of, Accounting Basics

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What is a warranty liability what is the purpose of

Question: Warranty Liability

(a) What is a warranty liability?

(b) What is the purpose of accruing a warranty liability before any actual claims are made?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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