MacBook Pro EXTRA CREDIT PROBLEM CHAPTER 8 This extra credit covers Chapter 8 specifically notes payable and warranty costs. 1. Joel runs a repair shop. He warrants select products against manufacturer defects. Joel estimates that warranty expenses will be 5% of sales. During the year 2013, Joel had sales of 3,507,000. Warranty payments were 350,000 and accrued warranty expense from 2012 were 350,000. (6 points ) Using the data above answer the following: , what is warranty expense for 2013:%of31.o "gs350 2. What is the ending balance in the warranty liability account at 12/31/2013 Ts 3. Journalize the warranty expense and payments for 2013. POST DATE DESCRIPTION REF DEBIT CREDIT 2013