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29: Snapshot Inc. manufactures digital cameras. The company offers customers a 2-year warranty on its cameras that covers defects. The costs of fixing defects covered
29: Snapshot Inc. manufactures digital cameras. The company offers customers a 2-year warranty on its cameras that covers defects. The costs of fixing defects covered by the warranty are estimated to average $3/camera. During fiscal 2011, the company incurred $600,000 in warranty costs and its warranty liability increased by $1,500,000. Assuming a warranty liability is created on each camera's sale date (i.e. the warranty accrual is not treated as an adjusting entry at year-end), how many cameras were sold during fiscal 2011
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