15 Putos 10 Required information The following information applies to the questions displayed below) On October 29, Lobo Company began operations by purchasing rarors for resale. The rotors have a 90-day warranty When a razor is returned the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $20 and its retail selling price is $75. The company expects warranty costs to equal 8% of dollar sales. The following transactions occurred November 11 Sold 105 rators for 57,875 cash. November 30 Recognized warranty expense related to November sales with an adjusting entry. Deceber Replaced 13 rarors that were returned under the warranty, December 16 Sold 220 rarors for $16,500 cash December 29 Replaced 30 rarors that were returned under the warranty. Deceber 31 Recognized warranty expenge related to December sales with an adjusting entry January 3 Sold 150 rotors for $11,280 cash January 17 Replaced 50 razors that were returned under the warranty. January 31 Recognized warranty, expense related to January sales with an adjusting entry 5. What is the balance of the Estimated Warranty Liability account as of January 31