parts and labor. Based on induslly sa to 2 percent of sales. During the year she paid $2,820 cash to replace a d tuner Required n's first year of o st year of nties liability at the end Based on the information given, what is Daun's total warranties liabilit accountin Prepare an income statement and statement of cash flows for Daun's first ve of on financial statemen Exercise9-7A Effeet of waranty obligations and payments on financia g-7A Effect of warranty obligations and payments on financial sr warranty on all merchandise it The Chair Company provides a 120-day parts-and-labor warranty on all merchan t sells Chair Company estimates the warranty expense for the current period to be 650 period a customer returned a product that cost $1,830 to repair. Required a. Show the effects of these transactions on the financial statements using a horizontal st ments model like the example shown here. Use + for increase,-for decrease, and NA