On December 31, 2020, Nittany Lion Company sells and delivers 400 units of Product G, for $50 each, to Customer Company with payment terms 2/10, n/30. Nittany Lion Company uses the Gross Method to account for sales discounts. Nittany Lion anticipates that approximately 5% of the units may be returned within six months, and accrues for an estimated refund liability on December 31. On January 1, 2021, Customer Company pays the bill in full. On January 2, 2021, Nittany Lion Company makes adjusting entries to its estimated refund liability. What is the balance of the estimated refund liability account on January 2, 2021, after adjusting entries?