15 of 24 Marks 2:26:43 A company offered a cash rebate of 10% on each of the 100.000 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 OB 240,000 $ 69,000 189.000 549.000 69,000 OC 600.000 Unsure OD. 240,000 16 of 24 2 Marl Nance Company estimates that its annual warranty expense is 4% of net sales. The following information relate to calendar year 2020. Net sales: Unadjusted balance of Provision for Product Warranty: $1,500,000 10,000 Debit The adjusted ending balance of Provision for Product Warranty should be: O A $60,000 B. $70,000