Tires USA, a tire manufacturer, guarantees its tires against defects for five years or 60,000 miles, whichever comes first. Suppose Tires USA can expect Warranty cost during the five-year period to add up to 7% of sales. Assume that a Tires USA dealer in Denver, Colorado, made sales of $454,000 during 2018. Tires USA received cash for 40% of the sales and took notes receivable for the remainder. Payments to satisfy customer warranty claims totaled $20,500 during 2018. Read the requirements Credit Journal Entry Accounts Accrued Warranty Payable Cash Debit 20.500 20,500 2. Post to the Accrued Warranty Payable account. The beginning balance was $12,000. At the end of 2018, how much in accrued warranty payable does Tires USA owe to its customers? Select the appropriate descriptions, and enter the beginning balance and post the entries to the Accrued Warranty Payable-account Calculate the balance of the liability account Accrued Wiranty Payable Requirements 523 re mp 1. Record the sales, warranty expense and warranty payments for Tires Ignore cost of goods sold 2. Post to the Accrued Warranty Payable account. The beginning balanc $12,000. At the end of 2018. how much in accrued warranty payable do Tires USA owe to its customers? Choose from any list or enter any number in the input fields and then click Check