During August, Boxer Company sells $354,000 In merchandise that has a one year warranty. Experience shows that warranty expenses average about 5% of the selling price. The warranty liability account has a credit balance of $11, 600 before adjustment. Customers returned merchandise for warranty repairs during the month that used $8, 200 in parts for repairs. The entry to record the estimated warranty expense for the month is: Debit Estimated Warranty Liability $8, 200: credit Warranty Expense $8, 200. Debit Warranty Expense $14, 300 credit Estimated Warranty Liability $14, 300. Debit Estimated Warranty Liability $17, 700: credit Warranty Expense $17, 700. Debit Warranty Expense $17, 700: credit Estimated Warranty Liability $17, 700. Debit Warranty Expense $6, 700: credit Estimated Warranty Liability $6, 100. References Multiple choice Mc Qu. 138 During August bower