01:52:47 15 of 24 Marks A company offered a cash rebate of 10% on each of the 600,000 packages of batteries it sold during 2020. The price per package was $4. Historically, the company receives rebate forms for 50% of the packages they sell. During 2020, the company paid $51,000 in rebates to customers. Consequently, the Rebate Expense and Liability for Rebates that would be reported on the financial statements for 2020 are: Rebate Expense Liability for Rebates O A. $120,000 $ 69,000 B. 240,000 189,000 O C. 600,000 549,000 O D. 240,000 69,000 Unsure 16 of 24 Nance Company estimates that its annual warranty expense is 4% of net sales. The following information relate to calendar year 2020. Net sales: $1,500,000 Unadjusted balance of Provision for Product Warranty: 10,000 Debit The adjusted ending balance of Provision for Product Warranty should be: O A. $60,000 O B. $70,000 O C. $50,000 OD. Some other amount that depends on the cost of repairs in 2020 under the warranty. Unsure