Business
Business, 08.11.2019 05:31, bb1235626

Talks-a-lot, inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warranty program. the average repair cost is $71 per phone. for 2021, talks-a-lot has sold 550 cell phones and has repaired 11 of them as of december 31, 2021. what amount of warranty liability should be reported at december 31, 2021?

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