Red Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year

Accounting Sep 24, 2020

Red Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year. Warranty expense is based on 4% of sales which amounted to P50,000,000 for the year. What amount of warranty expenditures was incurred for the current year?

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