SEDCO is a big retailer of TV's. It provides customers with a one year warranty on its products. Informotion about their sales in the last quarter of 2020 is as follows: October November December Units sold 1200 unit 1500 unit 1600 unit Selling Price per unit $ 500 $ 500 $ 500 Estimated defective units (% of units sold) 4% 5% 5% Actual units repaired 20 30 30 If the average repair cost for each unit under warranty is $ 70. How much is the balance in the Estimated Warranty Liability account on 31 December 2020?