Question: I need the answer very fast without explain LG sold 7,500 TVs for $1,100 each during 2020. The TVs are under warranty for one year
LG sold 7,500 TVs for $1,100 each during 2020. The TVs are under warranty for one year following the sale. Maintenance of the TVs during the warranty period averages $105 each. Actual warranty costs incurred during 2020 for units sold that year were $306,000. The income statement for the year of 2021 will report a warranty expense of: A. $787,500. B. $0. C. $306,000. D. $1,134,00
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