During August, Boxer Company sells $360,000 in merchandise that has a one year warranty. Warranty expense is estimated at 4% of sales. The warranty liability account has a credit balance of $12,400 before adjustment. The entry to record the estimated warranty expense for the month is: Multiple Choice Debit Estimated Warranty Liability $14,400; credit Warranty Expense $14,400. Debit Warranty Expense $11,000; credit Estimated Warranty Liability $11,000. Debit Estimated Warranty Liability $2,000; credit Warranty Expense $2,000. Debit Warranty Expense $9,000; credit Estimated Warranty Liability $9,000. Debit Warranty Expense $14,400; credit Estimated Warranty Tishilit, $14 400