Question 8 2 points Save Answer During Year 1, Its first year of operations, Benitez Co. reported sales of So00,000. AL the end of Year 1, the company estimated its warranty obligation at 3N of sales. During Year 1, the company paid $15,700 cash to settle waranty claims. Which of the following statements is true? O Cash decreased by $15,700 as a result of the accounting events associated with warranties in Year 1. O The warranties payable account has a credit balance of $2300 at the end of Year 1. O Warranty expenses would decrease net earnings by $18,000 in Year 1. O All of these answer choices are correct