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Estimated Warrranty Liabilities 6. The accounting records of Channel Sales show the following on January 1, 2021: Historically, Channel's warranty expenditures have been 9% of

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Estimated Warrranty Liabilities 6. The accounting records of Channel Sales show the following on January 1, 2021: Historically, Channel's warranty expenditures have been 9% of sales. During 2021, Channel recorded sales revenue of $113,000 and paid out $7,000 to satisfy warranty claims from prior periods. Record Channel's warranty expense and warranty payments during 2021. Calculate the ending balance of Channel's liability for estimated warranty repairs

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