1.table 1 is used to calculate the present value of the face amount

True or False?

2. table 4 is used to calculate the present value of the interest payments

True or False?

3. jackson Inc. sold alternators under warranty. He estimates that warranty expense will be 5% of sales. His sales were 645,000 and warranty cash expenditures were 5640 for 2017.

What was the ending balance in the warranty liability account at the end of 2017.

A.5640

B.26610

C.32,250

4. Jackson Inc. sold alternators under warranty. He estimates that warranty expense will be 5% of sales. His sales were 645,000 and warranty cash expenditures were 5640 for 2017.

What was warranty expense in 2017.

A.5640

B.26610

C.32,250