During December, Vixen Company sells $852,000 in merchandise that has a one-year warranty. Warranty expense is estimated at 3% of sales. On January 5 of the following year, the merchandise requires repairs that are completed the same day. The repairs cost $14,200 for materials taken from parts inventory. The entry to record the estimated warranty liability at the end of December is: Multiple Choice Debit Warranty Expense $11,360; credit Estimated Warranty Liability $11,360. Debit Warranty Expense