4 pts Question 16 During May, Wiggins Company sells $356,000 in merchandise that has a one year warranty. Experience shoulds that warranty expenses average about 5% of the selling price. The warranty liability account has a credit balance of $12,800 before adjustment. Customers returned merchandise for warranty repairs during the month that used $9.400 in parts for repairs. The warranty expense for the month is: $14,400 O $5,000 o $9,400 o $17,800