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 $16 and its retall selling price is $80. The company expects warranty costs to equal 6% of dollar sales. The following transactions occurred. Novenber 11 5old 70 razocs for 55, , 6 ee cash. Niovember 30 Recognized warranty expense related to Novenber sales with an adjusting entry. Decentier 9 Replaced 14 razors that were returned under the warranty. Decenber 16 5old 212 razors for $16,800 cash. Decenber 29 Replaced 28 razors that were returned under the warranty, Decenber 31 Recognized warranty expense related to Decenber sales with an adjusting entry. January 3 5old 140 razors for \$11, 2ee cash. January 17 feplaced 33 razors that were returned under the warranty. January 11 Recognized warranty expense related to. January sales with an odjusting eatry. 3. How much warranty expense is reported for January? Answer is complete but not entiraly correct