21 2 pts False Value Hardware began 2021 with a credit balance of $32,100 in the refund liability account. Sales and cash collections from customers during the year were $690,000 and $650,000, respectively. False Value estimates that 5% of all sales will be returned. During 2021, customers returned merchandise for credit of $24,000 to their accounts. What is the balance in the refund liability account at the end of 2021? $58,500 $34,500 $8,100 $42,600