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Business, 24.09.2019 03:10 seoulux

Carnes electronics sells consumer electronics that carry a 90-day manufacturer’s warranty. at the time of purchase, customers are offered the opportunity to also buy a two-year extended warranty for an additional charge. during the year, carnes received $420,000 for these extended warranties (approximately evenly throughout the year). required: 1-a. does this situation represent a loss contingency?

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