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BLT Appliances sells washing machines with one-year warranties that cover the repair and replacement of defective or broken parts. During the month of August,

BLT Appliances sells washing machines with one-year warranties that cover the repair and replacement of defective or broken parts. During the month of August, BLT sells 45 washing machines for $700 each. If BLT estimates warranty fulfillment at 5% of sales, what would be the warranty liability reported August?

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