Canvas - XCO D Question 2 3 pts Klean All manufactures and sells washing machines with a 2 year warranty, Warranty costs are expected to average 8% of sales and are expected to be incurred as follows: First year of warranty 2% Second year of warranty 6% The following table shows the sales and actual warranty costs incurred during the first two years of operations: Year Sales Warranty costs incurred 2019 $500.000 $ 4.000 2020 700,000 34.500 The amount of warranty liability that should be reported on the balance sheet at December 31, 2020 is $7.500 $15.500 $57.500 596.000 Question 3 Which of the following would be reported as a current liability? 3 pts