Electro Company makes battery powered ebikes. They cost $1,600 to make which consists of $400...
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Electro Company makes battery powered ebikes. They cost $1,600 to make which consists of $400 labor and $1,200 parts They are sold with a one-year unilimited warranty on parts only (customer pays labon) and this year Electro sold 6.600 bikes. Experience shown that 10% of bikes make a warranty claim and the average claim is $49. At year end 318 bikes from this year's sales have atreagy mate a claim. Required 1: Assume there were no other transactions in the year, what is the amount credited on Eatimated Liablity for Product Warranties when doing the year end AJE? \$\$ Required 2; Assume there were no other transactions in the year, what is the amount of Warranty expense reported in the incontie statement for the year? $ Required 3. Assume there were no other transactions in the year, what is the amount of claims for wartanties served duning thin ye
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