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What the amount of warranty expense on income statement

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Question - At the beginning of 2021, Angel Corporation began offering a two-year warranty on its products. The warranty program was expected to cost Angel 3% of net sales. Net sales made under warranty in 2021 were $183 million. Fifteen percent of the units sold were returned in 2021 and repaired or replaced at a cost of $5.00 million. What the amount of warranty expense on Angel's 2021 income statement?

Reference no: EM133100409

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