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Mike's Bikes begins business in 2022. In its first year of business, Mike sells 500...

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Accounting

Mike's Bikes begins business in 2022. In its first year of business, Mike sells 500 bicycles. On the company's 2022 income statement, the company reports warrantee expense of $100. On the company's 2022 balance sheet, the company reports warrantee liability of $30. In 2022, how much did Mike spend fixing bicycles that were under warrantee?

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