Problem: Mobile Ltd sells computers. It provides a one-year warranty on the computer by way of parts and labour. During the year ended 30 June 2023, the company sold 3,000 computers for $1,250 each. Previous experience indicates that the warranty claims amount to 2 per cent of sales revenue. For the year ended 30 June 2024, Mobile Ltd repaired 50 computers. The cost of repair was $30,000 in parts from inventory and $21,000 in labour. Required: (a) Briefly explain how the framework treats the warranty liability (a) Briefly explain how the framework treats the later warranty claim