Jansen Inc

The accounting records of Jansen Inc. included the following balances before the year end adjustments: Estimated warranty  liability Sales revenue Warranty expense | 11,000  | 180,000 |In the past, Jansen’s Inc. warranty expense has been 3% of sales. During the current period, the business paid $6,300 to satisfy the warranty claims of customers. Required: .   a) Record Jansen’s Inc. warranty expense for the period and the company’s payments to satisfy warranty claims ?.   b) Show what Jansen Inc. will report on its income statement and balance sheet for this situation (show supporting calculations) ?.   c) Which item from part (b) will affect Jansen’s current ratio? Will Jansen’s Inc. current ratio increase or decrease as a result of this item?

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