Maps The Moral of thes, Learning Curve 1b). Ch6 Pccc Flag. Warranties Lee Electronics, a franchise of electronics stores located in small towns throughout the United States, sold 270 32-inch televisions for 1720 each. The televisions carry on attached 3-year warranty for repairs, Lee Electronics estimates that repair costs will average 4.5% of the total selling price Required: 1. How much is recorded in the Warranty Liability account as a result of selling the television during the year, assuming no warranty service has yet been performed? 3,748 estimated warranty ability Feed Oh My 1. Warranty expense should be matched with the revenues it helped generate. As such, future warranty costs represent an obligation 2. Provide the necessary adjusting entry at December 31. If an amount box does not require an entry leave it bank Dec. 31 Warranty City 2.916 X X 2.916 X (Record warranty expense) Choi My true 2. Warranty expense should be matched with the revenues it helped generate. As sathy future warranty costs represent an obligation Peace