FastTech began 2021 with a credit balance of $7,425 in the refund liability account. The company allows its customers to return merchandise for any reason up to 45 days after delivery and receive a credit to their accounts. All FastTech's sales are for credit (no cash is collected at the time of sale). During 2021, FastTech sold merchandise on account for $600,000. Also, in 2021, customers returned $25,500 in sales for credit, with $7,050 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns in 2021, estimated to be 5.8% of sales, are recorded as an adjusting entry at the end of the year. The adjusting entry at the 2021 year-end for sale returns would include a credit of how much to the refund liability account? 9,300 15,975 8.925 16,350