TEN Company provides extended service contracts on equipment sold through major retailers. The standard contract is for three years. During 2021, TEN Company provided 2,000 such warranty contracts at an average price of P810 each. Related to these contracts, the company spent P200,000 servicing the contracts during the current year and expects to spend P600,00 more in the future.   The amount of liability included in the December 31, 2021 balance sheet is 820,000 1,420,000 600,000 1,080,000

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