False Value Hardware began 2024 with a credit balance of $33,000 in the refund liability account. Sales and cash collections from customers during the year were $740,000 and $700,000, respectively. False Value estimates that 7% of all sales will be returned. During 2024, customers returned merchandise for credit of $20,000 to their accounts. What is the balance in the refund liability account at the end of 20247 2:29 Multiple Choice $51.800 $64.800 $13,000 $71,000