form mod qui Question 6 Not complete Points out of 1 attempt.php?attempt-6760 44&page=5&scrollpos-120#q5 Warranty Costs Milford Company sells a motor that carries a 60-day unconditional warranty against product failure. Based on a reliable statistical analysis, Milford knows that between the sale and the end of the product warranty period, two percent of the units sold will require repair at an average cost of $50 per unit. The following data reflect Milfords Flag question recent experience: October November December Dec. 31 To Units sold 23,000 22,000 25,000 70,000 Known product failures from sales in: 160 220 210 October 460 350 210 120 180 130 Calculate. and prepare a journal entry to record, the estimated liability for product warranties at December 31 Assume that warranty costs of known failures have already been reflected in the records. General Journal Debit Credit Date Description Dec 31 To provide for estimated future warranty expense Check PM