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Novak Corp. uses the revenue approach to account for warranties. During 2 0 2 3 , the company sold $ 7 3 9 0 0
Novak Corp. uses the revenue approach to account for warranties. During the company sold $ worth of products, all of
which carried a twoyear warranty included in the price It was estimated that of the selling price represented the warranty
portion, and that of this related to and to Assuming that Novak incurred costs of $ to service the
warranties in what is the net warranty revenue revenue minus warranty costs for
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