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Dawson company introduced the product in August 2018 that carries a one year warranty against manufactures defects. Warranty cost are expected to approximate 1% of

Dawson company introduced the product in August 2018 that carries a one year warranty against manufactures defects. Warranty cost are expected to approximate 1% of sales. Sales in 2020 were $330,000 and actual warranty expenditures for the first year of selling the product were $2200. What amount should Dawson report as a liability on the balance sheet at December 31, 2020?

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