Multiple Choice
Hall Company sells merchandise with a one-year warranty. In the current year, sales consisted of 4,500 units. It is estimated that warranty repairs will average $10 per unit sold, and 30% of the repairs will be made in the current year and 70% in the next year. In the current year's income statement, Hall should show warranty expense of
A) $45,000
B) $13,500
C) $31,500
D) $0
Correct Answer:
Verified
Correct Answer:
Verified
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