During August, Boxer Company sells $362,000 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 $12,200 before adjustment Customers returned merchandise for warranty repairs during the month that used $8,800 in parts for repairs. The entry to record the estimated warranty expense for the month is: Multiple Choice Debit Estimated Warranty Liability $18,100; credit Warranty Expense $18,100. Debit Warranty Expense $18,100; credit Estimated Warranty Liability $18,100. O Debit Warranty Expense $14,700; credit Estimated Warranty Liability $14,700. Debit Estimated Warranty Liability $8,800; credit Warranty Expense $8,800. Debit Warranty Expense $5,900; credit Estimated Warranty Liability $5,900