Benitez Co. had sales of S640.000 in Year 1. The company expects to incur warranty expenses amounting to 3% of sales. There were $12,000 of warranty obligations paid in cash during Year 1. Based on this information Multiple Choice The warranties payable account would increase by $7.200 in Year All of these answer choices are correct Warranty expenses would decrease net earnings by S19.200 in Year Cash would decrease by $12.000 as a result of the accounting events associated with warranties in Year