Right Medical introduced a new implant that carries a five-year warranty against manufacturers defects. Based on industry experience with similar product introductions, warranty costs are expected to approximate 1% of sales. Sales were $13 million and actual warranty expenditures were $28,500 for the first year of selling the product. What amount (if any) should Right report as a liability at the end of the year?

BEGINNING BALANCE	ANSWER HERE	ANSWER HERE
	ANSWER HERE	ANSWER HERE	WARRANTY EXPENSE
ACTUAL EXPENDITURES	ANSWER HERE	ANSWER HERE
ENDING BALANCE	ANSWER HERE	ANSWER HERE