Use the following information to Solve MCQ22 and MCQ 23

Hatcher Corporation sold 11,500 dishwashers for $1,100 each during 2019. The dishwashers are under warranty for one year following the sale. Maintenance of the dishwashers during the warranty period averages $90 each. The actual warranty costs incurred during 2019 for units sold that year were $296,000.

The journal entry to record this transaction including both sales and assurance-type warranty includes

The statement of financial position at the end of 2019 reports a related warranty liability of: