Multiple Choice
Panther Co.had a quality-assurance warranty liability of $350,000 at the beginning of 2016 and $310,000 at the end of 2016.Warranty expense is based on 4% of sales,which were $50 million for the year.What were the warranty expenditures for 2016?
A) $0.
B) $1,960,000.
C) $2,000,000.
D) $2,040,000.
Correct Answer:
Verified
Correct Answer:
Verified
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