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What amount should be reported as warranty expense

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Problem - Marvel Company sells air-conditioning units that carry a two-year warranty against manufacturer's defects. Based on the entity's experience, warranty costs are estimated at P500 per unit. During the current year, Marvel Company sold 1,800 units and paid warranty costs of P145,000. In its income statement for the current year, what amount should be reported as warranty expense?

Reference no: EM132934667

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