Bachman Company plans to develop a shopping center. In the first quarter, the following amounts were spent: Acquisition of land Surveys and legal fees Land clearing Fencing Install lighting and signage $17,000 1,400 400 1,000 1,760 What amount should be recorded as the cost of the land in the company's books? A. $20,560 B. $18,400 C. $19,800 D. $18,800 Classic Sales Company offers warranties on all their electronic goods. Warranty expense is estimated at 4% of sales revenue. In 2018, the company had $601,000 of sales. In the same year, it paid out $13,500 of warranty payments. Which of the following is the entry needed to record the estimated warranty expense? 13,500 A. Warranty Expense Estimated Warranty Payable 13,500 13,500 B. Estimated Warranty Payable Cash 13,500 24,040 O C. Warranty Expense Estimated Warranty Payable 24,040 D. Warranty Expense Sales Revenue 24,040 24,040