(4) The accounting records of Bears Unlimited (BU) include the following balance for estimated warranty payable at the beginning of the period (January 1, 2014): Estimated Warranty Payable Beg. Bal $5,000 During 2014, BU had Sales Revenues of $275,000 and paid $9,000 to satisfy warranty claims. BU estimates annual warranty expense to be 4% of Sales Revenue. A Record the entry for warranty expense for 2014 (you may omit the entry for sales revenue & COGS expense) B. What amount for Warranty Liability is reported on the December 31, 2014 Balance Sheet