On December 31,2015,estimated Warranty Payable Is Reported on the Balance

Question 22
Multiple Choice

On December 31,2015,Estimated Warranty Payable is reported on the balance sheet for White Decker Company.The liability pertains to products sold in 2015 with five year warranties.How should the Estimated Warranty Payable be reported on the balance sheet at December 31,2015? A)stockholders' equity. B)a long-term liability only. C)a current liability only. D)a current liability and a long-term liability.