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Define the product was free of any defects

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Reference no: EM131745965

Tamarisk Company sold 10,500 Super-Spreaders on December 31, 2017, at a total price of $1,081,500, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is $588,000. The assurance warranties extend for a 2-year period and are estimated to cost $36,900. Tamarisk also sold extended warranties (service-type warranties) related to 2,100 spreaders for 2 years beyond the 2-year period for $14,700. Given this information, determine the amounts to report for the following at December 31, 2017: sales revenue, warranty expense, unearned warranty revenue, warranty liability, and cash.

Reference no: EM131745965

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