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please answer both if you can!! Exilien offers a 3-year warranty on its products. Exilien sold $12,000,000 of products this year and estimates that warranty
please answer both if you can!! Exilien offers a 3-year warranty on its products. Exilien sold $12,000,000 of products this year and estimates that warranty work will result in costs equal to 3% of sales. If the estimated warranty liability account has a credit balance prior to the year-end adjusting entry of $12,000, how much warranty expense must be recognized? $120,000 $240.000 $360,000 $480.000 Arnwine Company has bonds outstanding with a par value of $500,000. The unamortized discount on these bonds is $15,000. If Arwine retires these bonds by calling them at 96. What is the gain or loss on this retirement? $35.000 loss, $15,000 loss $5,000 in $20.000
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