Monty Company began the year with a credit balance in the Refund Liability account of $47100. Credit sales during the year were $710000. Monty customers made cash payments on account of $680000. During the year, customers returned $35325 worth of goods. Monty estimates that 6% of credit sales will be returned. What is the balance in Monty's Refund Liability account at the end of the year? O $42600 $52575 O $125025 $54375