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How national should report warranty expense of

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Reference no: EM132996306

Problem 1: National Appliance Center sells washing machines that carry a three-year warranty against manufacturer's defects. Based on company experience, warranty costs are estimated at 260 per machine. During the year, National sold 48,000 washing machines and paid warranty costs of P340,000. In its income statement for the year ended December 31, National should report warranty expense of

a. 680,000
b. 960,000
c. 2,200,000
d. 2,880,000

Reference no: EM132996306

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