Sony Philippines Inc. manufactures television components called Renvoi and sells them with a 6-month warranty under which defective Renvois will be replaced without charge. On December 31, 2021, Estimated Liability for Product Warrantv had a balance of P765 000. By June 30. 2022 this balance had been reduced to P120 375 by debits for estimated net cost of components returned that had been sold in 2021