Sheridan Navigation began operations in 2022 and provides a one-year warranty on the products it sells. It estimates that 19600 of the 404000 units sold in 2022 will be returned for repairs and that these repairs will cost $7 per unit. The cost of repairing 15700 units presented for service in 2022 was $127900. Sheridan estimates that the remaining estimated units will be presented for repair in the following year. Sheridan will report Warranty llability of $137200 on December 31,2020. no warranty obligation on December 31,2020 , since this is only a contingent liability. warranty liability of $27300 on December 31,2020. warranty expense of $127900 for 2020 . Current Attempt in Progress Vaughn Navigation began operations in 2022 and provides a one-year warranty on the products it sells. It estimates that 21000 of the 397000 units sold in 2022 will be returned for repairs and that these repairs will cost $9 per unit. The cost of repairing 16700 units presented for service in 2022 was $128100. Vaughn estimates that the remaining estimated units will be presented for repair in the following year. Vaughn will report warranty liability of $38700 on December 31,2020. warranty expense of $128100 for 2020 . no warranty obligation on December 31,2020 , since this is only a contingent liability. warranty liability of $189000 on December 31,2020. Sheridan Navigation began operations in 2022 and provides a one-year warranty on the products it sells. It estimates that 19600 of the 404000 units sold in 2022 will be returned for repairs and that these repairs will cost $7 per unit. The cost of repairing 15700 units presented for service in 2022 was $127900. Sheridan estimates that the remaining estimated units will be presented for repair in the following year, Sheridan will report warranty liability of $137200 on December 31,2020. no warranty obligation on December 31,2020 , since this is only a contingent liability. warranty liability of $27300 on December 31,2020 . warranty expense of $127900 for 2020. Vaughn Navigation began operations in 2022 and provides a one-year warranty on the products it sells, It estimates that 21000 of the 397000 units sold in 2022 will be returned for repairs and that these repairs will cost $9 per unit. The cost of repairing 16700 units presented for service in 2022 was $128100. Vaughn estimates that the remaining estimated units will be presented for repair in the following year. Vaughn will report warranty liability of $38700 on December 31,2020. warranty expense of $128100 for 2020 . no warranty obligation on December 31,2020 , since this is only a contingent liability. warranty liability of $189000 on December 31,2020
