Swifty's R Us sold 1130 high end convection ovens during 2023 at a price of $1650, with a warranty guarantee that the product was free from any defects. The cost of each oven is $1090 and includes a $10 one-year assurance warranty. In addition, Swifty's R Us sold extended warranties on 690 ovens for four years beyond the one-year period for $430 each. What is the total value of the liability related to the warranties? $296700 $0 O $308000 O $11300

Swifty's R Us sold 1130 high end convection ovens during 2023 at a price of $1650, with a warranty guarantee that the product was free from any defects. The cost of each oven is $1090 and includes a $10 one-year assurance warranty. In addition, Swifty's R Us sold extended warranties on 690 ovens for four years beyond the one-year period for $430 each. What is the total value of the liability related to the warranties? $296700 $0 O $308000 O $11300

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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