Question 28 5 pts On January 1, 2020, the beginning balance in the Warranty Liability account was $65,000. Cash sales for 2020 totaled $900,000 and credit sales totaled $300,000. The company estimates warranty costs at 6% of sales. During the year. $75,000 was paid to settle warranty claims. As a result of these transactions, what is the amount of warranty liability that is reported on the company's 2020 year-end balance sheet