Vision Wear s product warranties state that defective glasses will be
Vision Wear’s product warranties state that defective glasses will be replaced free of charge for the life of the product. Vision Wear estimates that 2% of the pairs of glasses sold will require replacement. Each pair of glasses costs Vision Wear on average $40. During October 2014, Vision Wear sold 1,300 pairs of glasses at an average price of $120 per pair. Record the estimated warranty liability for October.

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