False Value Hardware began 2021 with a credit balance of $31300 in the refund attaccount ses and cash collections from customers during the year were $660,000 and $620.000 respectively. False Value estimates that 5% of all sales will be returned. During 2021 customers returned merchandise for credit of $19,000 to the accounts What is the balance in the refund liability account at the end of 2021? M e Choice O $2,200 O $52.000 0 5 .200 $33.000