An Engineering goods Company provides after Sales warranty for 2 years to its custoners The Company has been following policy for making provision for warranties on the invoice amount, on remaining balance warranty Period. hess than year: 20%. provision More than year: 3% provisio Invoice Date Amount (2) 19 January 2011 40,000 25,000 90,000 for warranty Calculate the provision to be made under Accounting standard 29 as at 31st March, 29946 January, 2012 15th October, 2012 Lou and 31st March, 2013. Ako Compute amount to be debited to profit & Loss Account for the year Ended 31st March, 2013