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Find what was the balance in the warranty liability account

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Problem 1: Carpenter Inc. had a balance of $800,000 in its warranty liability account as of December 31, 2012. In 2013, Carpenter's warranty expenditures were $2,500,000. The warranty is calculated as 6% of sales. Sales in 2013 were $40 million. What was the balance in the warranty liability account as of December 31, 2013?

Reference no: EM132622436

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