Accrued Product Warranty Back in Time Inc. warrants its products for one year. The estimated product warranty is 7% of sales. Assume that sales were S597,000 for March In April a custo er received warranty repairs requiring S27 L64 of parts. a. Determine the warranty llability at March 31, the end of the first month of the current fiscal year. Round your answer to the nearest dollan b. What accounts are decreased for the warranty work provided in April