Entertainment tonight, inc. manufactures and sells stereo systems that include an assurance-type warranty for the first 90 days. entertainment tonight also offers an optional extended coverage plan under which it will repair or replace any defective part for 2 years beyond the expiration of the assurance-type warranty. the total transaction price for the sale of the stereo system and the extended warranty is $3,000. the standalone price of each is $2,300 and $900, respectively. the estimated cost of the assurance-warranty is $350. the accounting for warranty wil include a
select one:
1. debit to warranty expense, $900.
2. debit to warranty liability, $350
3. credit to warranty liability, $900
4. credit to unearned warranty revenue, $900

Given:

The total transaction price for the sale of the stereo system and the extended warranty is $3,000.

The standalone price of each is $2,300 and $900, respectively.

The estimated cost of the assurance-warranty is $350.

Here, in this case the warranty expenses against sale of stereo is on basis of expected expenses .

Expected expenses in future is for certainty and sum collected against this expenses.  Therefore, $ 900 is gathered under assurance-warranty while no cost is incurred. Therefore, they will credit the unearned warranty revenue of  $ 900  

Option (4) is correct.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.