Benitez Company had sales of $240,000 in Year 1. The company expects to incur warranty expenses amounting to 4% of sales. There were $3,000 of warranty obligations paid in cash during Year 1. Based on this information: Multiple Choice All of these answer choices are correct. Cash would decrease by $3,000 as a result of the accounting events associated with warranties in Year 1. Warranty expenses would decrease net earnings by $9,600 in Year 1. The warranties payable account would increase by $6,600 in Year 1