Question: Question 36 View Policies Current Attempt in Progress Ruby's & Rings Inc. offers a two-year assurance warranty against failure of its products. The estimated liability

Question 36 View Policies Current Attempt in Progress Ruby's & Rings Inc. offers a two-year assurance warranty against failure of its products. The estimated liability is 4% of sales in the year of sale and in the second year Sales for 2020 and 2021 were: $2.500.000 and $2.800,000, respectively. The company incurred no warranty costs in 2020 but in 2001 they spent $175.000 on repairs related to the warranties ved 2020 2021. The warranty expers for 2020 was 500.000 $100,000 $150.000 $250.000

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