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Talks - A - Lot, Incorporated sells cell phones to customers and expects that 1 0 % of phones sold will be returned for repair
TalksALot, Incorporated sells cell phones to customers and expects that of phones sold will be returned for repair under its warranty program. The average repair cost is $ per phone. For TalksALot has sold cell phones and has repaired of them as of December What amount of warranty liability should be reported at December Do not round intermediate calculations.
Multiple Choice
A $
B $
C $
D Zero: all expected returns from warranties have been received
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