$!$

Required information

$[$The following information applies to the questions displayed below$]$

On October $29,$ Lobo Company began operations by purchasing razors for resale. When a razor is returned, the company discards it and mails a new one from Merch company's cost per new razor is $$20$ and its retail selling price is $$75.$ The compar dollar sales. The following transactions occurred.

November $11$ sold $105$ razors for $$7,875$ cash.

November $30$ Recognized warranty expense related to November sales with an adjus December $9$ Replaced $15$ razors that were returned under the warranty.

December $16$ Sold $220$ razors for $$16,500$ cash.

December $29$ Replaced $30$ razors that were returned under the warranty.

December $31$ Recognized warranty expense related to December sales with an adju January $5$ Sold $150$ razors for $$11,250$ cash.

January $17$ Replaced $50$ razors that were returned under the warranty.

January $31$ Recognized warranty expense related to January sales with an adjus

$4.$ What is the balance of the Estimated Warranty Liability account as of December $31?$

Estimated warranty liability balance

$$,1,672$