Required information A company sells a product with a quality-assurance warranty. The company estimates warranty costs to be 3% of sales. For 2021, sales were $160,000. Actual warranty costs paid during 2021 totaled $4,480. The warranty liability had a balance of $15,920 at the end of 2021. Use the information above to answer the questions below. The journal entry to record the payment of actual warranty expenditures will include a: (Click to select) debit to Estimated Warranty Liability for $4,800 credit to Estimated Warranty Liability for $4,800 credit to Estimated Warranty Liability for $4,480 debit to Estimated Warranty Liability for $4,480