Concord.com sold 6600 units of its product for $540 each during the year ending December 31, 2021. The selling price includes a one-year warranty on parts. It is expected that 3% of the units will be defective and that repair costs will average $60 per unit. In the year of sale, warranty contracts are honored on 110 units for a total cost of $6600. What amount should be reported on Concord.com's balance sheet as Warranty Liability on December 31, 2021? O $5280 O It cannot be determined O $11880 O $6600 Save for Later Attempts: 0 of 1 used Submit