Question 23 (1 point) A company sold $12,000 worth of trampolines with an extended warranty. It estimates that 2% of these sales will result in warranty work. The company should: Consider the warranty expense a known liability. Recognize warranty expense and liability in the year of the sale. Consider the warranty expense a remote liability since the rate is only 2%. Recognize warranty expense when the company purchases the trampolines. Recognize warranty expense at the time the warranty work is performed