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-Olegone ac sells vehides with mulit-year warranties that it records in one Warranty Payable account....

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Accounting

-Olegone ac sells vehides with mulit-year warranties that it records in one Warranty Payable account. At lanvary 1, 2019, the beginning balance in the Warranty Payable account was $50,000. Vehides sales during 2019 were $900,000 and warranty costs were estimated at 7% of sales. During 2019, 55.000 of chains were paid. On December 31, 2019, what is the ending balance of Warranty Payable.

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