Ay courses / SP 2020-21-ACT 212- Smart car's sales provide a one-year labour and parts warranty with every car sold. It is expected that 3 000 cars will be sold for the year. Past records show that about 8% of cars require warranty repairs at an average cost of $300 per car. What is the accounting entry to record the expected warranty expense for the year? Select one: a. Debit warranty expense $72 000; credit provision for warranties $72 000 b. Debit provision for warranties $72 000; credit warranty expense 724 000 c. No entry is required d. Debit provision for warranties $72 000; credit bank $72 000 Next pag