eBook Print Item Accrued Product Warranty Ford Motor Company (F) disclosed the following estimated Product warranty payable for two recent years. December Year 2 Year 1 (in millions) Product warranty payable $4,786 $3,927 Ford's sals in its automotive sector were $135,782 million in Ye a. Ilustrate the effects on the accounts and financial statements for the Enter account decreases and cash outfiows as negative amounts. Enter amounts in millions. ar 2 and $139,369 million in Year 1. Assume that the total paid on warranty claims during Year 2 was $2,850 million Year 2 product warranty expense. If no account or activity is affected, select No effect" from the dropdown list and leave the corresponding number entry box Balance Sheet Statement of Cash Income . Stockholders Equitystatement Assets Liabilities Flows Statement of Cash Flows Income Statement b. All of the following are reasons why Ford's total warranty liability might decrease except: Check My Work 10 more Check My Work uses remaining. PreviouS Next 2:54 PM