Required information [The following information applies to the questions displayed below] On October 29, Lobo Company began operations by purchasing razors for resale. The razors have a 90 -day warranty. When a razor is returned, the company discards it and malis a new one from Merchandise inventory to the customer. The company's cost per new razor is $20 and its retail selling price is $75. The company expects warranty costs to equal 8% of dollar sales. The following transactions occurred. Novenber 11 Sold 105 razors for $7,875 cash. Novenber 30 Recognized warranty expense related to Novenber sales with an adjusting entry. Deceaber 9 Reptaced 15 razors that were returaed under the warranty. Decenber 16 sold 220 razors for $16,500 cosh. Deceaber 29 Peplaced 30 razors that were returned under the warfanty. Decenber 31 Recognized worranty expense related to Decenber sales with an adjusting entry. January 5 sold 150 razors for $11,250 cash. 2. How much warranty expense is reported for November and for December