Question 5 During 2020, Bonita Industries introduced a new product carrying a two-year warranty against defects. The estimated warranty costs related to dollar sales are 3% within 12 months following sale and 6% in the second 12 months following sale. Sales and actual warranty expenditures for the years ended December 31, 2020 and 2021 are as follows: 2020 2021 Sales $ 798000 992000 $1790000 Actual Warranty Expenditures $11600 35600 $47200 At December 31, 2021, (assuming the accrual method) Bonita should report an estimated warranty liability of $ 35600. O $53680. O $ 113900. $0