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 retail selling price is $80. The company expects warranty costs to equal 6% of dollar sales. The following transactions occurred. November 11 Sold 70 razors for 55,608 cash. November 30 Recognized warranty expense related to Novenber sales with an adjusting entry. Decenber 9 Replaced 14 razors that were returned under the warranty. Decenber 16 sold 210 razors for $16, 8e0 cash. Decenber 29 Replaced 28 razors that were returned under the warranty. December 31 Recognized warranty expense related, to Deceaber sales with an adjusting entry. January 5 sold 14e razors for $11,20e cash. January 17 Replaced 33 razors that were returned under the warranty. January 31 Recognized warranty expense related to January sales with an adjusting entry. 5. What is the balance of the Estimated Warranty Llability account as of January 31