Discuss the warranty expenditures


Panther Co. had a warranty liability of $357,000 at the beginning of 2011, and $302,000 at end of 2011. Warranty expense is based on 2% of sales, which were $55 million for the year. What were the warranty expenditures for 2011?

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Accounting Basics: Discuss the warranty expenditures
Reference No:- TGS0709647

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