Use the Following Information for Questions Below

question 37

Multiple Choice

Use the following information for questions below
Ruby's & Rings Inc.offers a two-year assurance warranty against failure of its products.The estimated liability is 4% of sales in the year of sale and 6% in the second year.Sales for 2020 and 2021 were: $2,500,000 and $2,800,000,respectively.The company incurred no warranty costs in 2020 but in 2021 they spent $175,000 on repairs related to the warranties issued in 2020 and 2021.
-The balance in the warranty provision account at the end of the 2021 year was

• A)$75,000.
• B)$280,000.
• C)$355,000.
• D)$530,000.

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Definitions:

Atrioventricular Bundle

The bundle of His, a collection of heart muscle cells specialized for electrical conduction that transmits the electrical impulses from the atria down to the ventricles.

Ventricular Depolarization

The electrical activation of the ventricles of the heart, leading to their contraction.

Atrioventricular Node

A small node of specialized heart muscle located in the heart's lower right atrium, playing a crucial role in the heart's electrical conduction system by delaying the transmission of impulses from the atria to the ventricles.

Left Bundle Branch

A pathway of heart muscle fibers responsible for conducting electrical impulses to the left side of the heart's ventricles.