On October $29,$ Lobo Company began operations by purchasing razors for resale. The razors have a $90-$day warranty. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $$14$ and its retail selling price is $$80.$ The company expects warranty costs to equal $9\%$ of dollar sales. The following transactions occurred.

November $11$ Sold $50$ razors for $$4,000$ cash.

November $30$ Recognized warranty expense related to November sales with an adjusting entry.

December $9$ Replaced $10$ razors that were returned under the warranty.

December $16$ Sold $150$ razors for $$12,000$ cash.

December $29$ Replaced $20$ razors that were returned under the warranty.

December $31$ Recognized warranty expense related to December sales with an adjusting entry.

January $5$ Sold $100$ razors for $$8,000$ cash.

January $17$ Replaced $25$ razors that were returned under the warranty.

January $31$ Recognized warranty expense related to January sales with an adjusting entry.

Problem $9-4$A $($Algo$)$ Part $5$

$5.$ What is the balance of the Estimated Warranty Liability account as of January $31?$