15. T F Extended warranties are initially recorded as uneared revenue, and are reclassified as revenue over the time of the obligation. 16. T Warranty expense should not be recorded until the amount of claims is known for sure. 18. T 17. T F If a change is made to an estimate of warranty expense, the company should restate the number reported in prior periods. F When an extended warranty is sold, the seller must credit uncarned revenue. 19. T Age of accounts payable is calculated by dividing a company's accounts payable by its average cost of goods sold per day. 20. T F Reflow Corporation purchased inventory of $7,300 during the year. It ended the year with accounts payable of $600. Reflows' age of accounts payable is 30 days. F