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During 2010, the Alexandra Company began selling a new type of machine that carries a two-year warranty against all defects. Based on past industry and company experience, estimated warranty costs should total $2,000 per machine sold. During 2010, sales and actual warranty expenditures were $2,000,000 (40 machines) and $22,000, respectively.

What amount should Alexandra report as its warranty expense for 2010?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947051

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