Worrones Mason Auto Repair specializes in the repair of foreign car transmissions. To encourage business, Mason offers a 6-month warranty on all repairs. The following data are available for 2019: 5,500 Transmissions repaired, 2019 Expected frequency of warranty claims Actual warranty cams, 2019 0.03 per repair $52,400 $41,700 Estimated warranty ability 1/1/19 Estimated cost of each warranty claim Assume that warranty claims are paid in cash $290 Required: 1. Compute the warranty expense for 2019 2. Prepare the entry to record the payment of the 2019 warranty claims. Warranty Expense Warranty Liability (Record payment of claims) 3. Conceptual Connection: What is the December 31, 2019, balance in the estimated warranty ablity account? Ww has the balance in the time warranty ability account charged from January 1, 20197 The banestas because more ans were through warranty expense Previous Next > All we