Business, 23.10.2019 21:00, cearp

Talarczyk company sold 10,000 super-spreaders on december 31, 2020, at a total price of $1,000,000, with a warranty guarantee that the product was free of any defects. the cost of the spreaders sold is $550,000. the assurance warranties extend for a 2-year period and are estimated to cost $40,000. talarczyk also sold extended warranties (service-type warranties) related to 2,000 spreaders for 2 years beyond the 2-year period for $12,000. given this information, determine the amounts to report for the following at december 31, 2020: sales revenue, warranty expense, unearned warranty revenue, warranty liability, and cash.

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Talarczyk company sold 10,000 super-spreaders on december 31, 2020, at a total price of $1,000,000,...