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What amount will be recorded as warranty expense

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Question - Fail-Safe Computer Inc. sells equipment with a 2-year warranty. Prior experience indicates that costs for warranty repairs average 4% in the first year, and 2% in the second year. Sales were $300,000 and $400,000 in fiscal 2020 and 2021 respectively. It paid $5,000 for materials and labour to make warranty-related repairs in 2019. What amount will be recorded as warranty expense in 2020?

Reference no: EM132825005

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