At the beginning of Year 1, McKee, Incorporated had a balance in the Warranty Payable account of $18,000. During the year McKee sold for $614,000 several products that carried a two-year warranty. McKee estimated that warranty expense would be 3% of sales for the year. Required: If McKee's paid warranty claims in the amount of $11,400 during Year 1 , what is the balance in the Warrantles Payable account after the warranty obligation is recognized