Required information Exercise 8-14A Record warranties (LO8-5) [The following information applies to the questions displayed below.] Computer Wholesalers restores and resells notebook computers. It originally acquires the notebook computers from corporations upgrading their computer systems, and it backs each notebook it sells with a 90-day warranty against defects. Based on previous experience, Computer Wholesalers expects warranty costs to be approximately 6% of sales. Sales for the month of December are $440,000. Actual warranty expenditures in January of the following year were $15,000. Exercise 8-14A Part 4 4. What is the balance in the Warranty Liability account after the entries in Part 2 and 3? Warranty Liability