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Novak's R Us sold 1170 high-end convection ovens during 2023 at a price of $1685,...

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Accounting

Novak's R Us sold 1170 high-end convection ovens during 2023 at a price of $1685, with a warranty guarantee that the product was free from any defects. The cost of each oven is $1100 and includes a $10 one-year assurance warranty. In addition, Novak's R Us sold extended warranties on 670 ovens for four years beyond the one-year period for $214400. What is the value of the warranty expense that Novak's R US should recognize?
$0
$226100
$11700
$214400
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