value: 1.00 points Right Medical introduced a new implant that carries a five-year warranty against manufacturer's dofects. Based on industry experience with similar product introductions, warranty costs are expected to approximate 1% of sales. Sales were $20 million and actual warranty expenditures were $29,000 for the first year of selling the product. What amount (if any) should Right report as a liability at the end of the yea Enter your answers in whole dollars.) Warranty Liability Beg. Bal. Warranty expense Actual expenditures End Bal References eBook&Resources Worksheet Learning Objective: 13-05 Identify situations that constitute contingencies and the circumstances under which they should be accrued Difficulty: 2 Medium Learning Objective: 13-06 Demonstrate the appropriate accounting treatment for contingencles, including unasserted claims and assessments Check my work esc F1