Buxton Snowboards sold 7,600 snowboards during November 2018 for an average of $185 (cost: $120). Buxton provides a warranty that replaces any defective board with a new one. This company's experience shows that warranty expense averages 0.5% of the snowboards sold at cost. Required: 1. Prepare the journal entry to on November 30, 2018, to record the estimated warranty liability