Option 5 is wrong

You received no credit for this question in the previous attempt. View previous attempt 10 During August, Boxer Company sells $357,000 in merchandise that has a one year warranty. Experience shows that warranty expenses average about 4% of the selling price. The warranty liability account has a credit balance of $12,700 before adjustment. Customers returned merchandise for warranty repairs during the month that used $9,300 in parts for repairs. The entry to record the estimated warranty expense for the month is: Multiple Choice Debit Warranty Expense $10,880, credit Estimated Warranty Liability $10,880. Debit Estimated Warranty Liability $14,280; credit Warranty Expense $14,280. o Debit Warranty Expense $14,280; credit Estimated Warranty Liability $14,280. Debit Warranty Expense $1,580; credit Estimated Warranty Liability $1,580. Debit Estimated Warranty Liability $9,300; credit Warranty Expense $9,300