Question: ANSWER ASAP An entity offers a 2-year warranty program on all the products is sells. They estimate that warranty costs will equal 2% of sales
An entity offers a 2-year warranty program on all the products is sells. They estimate that warranty costs will equal 2% of sales in the first year of the warranty and 2% of sales in the second year of the warranty. In the first year, total sales amounted to $3,564,039. Warranty costs incurred to service products under warranty was $34,908. What is the warranty expense for the first year (round to the nearest whole dollar)? Your
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