Business, 15.04.2020 01:20 aidene0311

Talks-A-Lot, Inc. sells cell phones to customers and expects that 5% of phones sold will be returned for repair under its warranty program. The average repair cost is $76 per phone. For 2021, Talks-A-Lot has sold 680 cell phones and has repaired 6 of them as of December 31, 2021. What amount of warranty liability should be reported at December 31, 2021?

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Talks-A-Lot, Inc. sells cell phones to customers and expects that 5% of phones sold will be returned...