A company sells computers for $1,600 each. Each computer has a two-year warranty that covers...
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A company sells computers for $1,600 each. Each computer has a two-year warranty that covers replacement of defective parts. It is estimated that 2% of all computers sold will be returned under the warranty with an average cost of $186 each. During November, the company sold 48,000 computers;. 580 computers were serviced under the warranty during November at a total cost of $73,000. The balance in the Estimated Warranty Liability account at November 1 was $38,000. What is the company's warranty expense for the month of November?
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