Forest Grove Appliances, Inc. sells food processors for $900 with a 120-day warranty against defects. Past experience indicates that 5% of the processors will have some defect during the warranty period and that the necessary repairs and adjustments will cost $150 per defective unit. Sales for August were $1,404,000. Thirty of the units sold in August were reported defective and repaired in August. What is the August 31 journal entry for the estimated liability for product warranties for units sold in August? Select one: A. Product Warranty Expense Estimated Liability for Product Warranty 70,200 70,200 O B. Estimated Liability for Product Warranty Product Warranty Expense 11,700 11,700 O C. Product Warranty Expense Estimated Liability for Product Warranty 7,200 7,200 O D. Product Warranty Expense Estimated Liability for Product Warranty 11,700 11,700