(Learning Objective 1: Account for warranty expense and the related liability) The accounting… 1 answer below »

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(Learning Objective 1: Account for warranty expense and the related liability) The accounting records of Tanner Appliances included the following balances at the end of the period:

In the past, Tanner’s warranty expense has been 9% of sales. During the current period the business paid $9,200 to satisfy the warranty claims.