What amount reported on sun angel yearend balance sheet

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Question - At the beginning of 20x1, Sun Angel Corporation began offering a two-year warranty on its products. The warranty program was expected to cost Sun Angel 1% of net sales in the first 12 months and 3% of net sales in the second 12-month period. Net sales made under warranty in 20x1 were $180 million. Fifteen percent of the units sold were returned in 20x1 and repaired or replaced at a cost of $5.3 million. What the amount reported on Sun Angel's 20x1 yearend balance sheet for Est. Warranty Liability?

Reference no: EM133091930

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