On January 1 and December 31, Warranty Liability is $6,000 and $4,000, respectively. During the current year, sales were $100,000, upon which 3% was estimated to be the amount required for future warranty payments. Calculate the amount paid for warranties during the current year.

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The Answer of On January 1 and December 31, Warranty Liability is $6,000 and $4,000, respectively. During the current year, sales were $100,000, upon which 3% was estimated to be the amount required for future warranty payments. Calculate the amount paid for warranties during the current year.

On January 1 and December 31, Warranty Liability Is $6,000