Enabled. Week $8$ Homework. Chapter $9($i$)$

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On October $29,$ Lobo Compary began operations by purchasing rarors for resale. The rarons have a $90-$day warranty, When a razor is retumed, the company discards it and mals a new one from Merchandise imventory to the customer. The company's cost per new razor is $$15$ and its retail selling perice is $$70.$ The company expects warranty costs to equal $85$ of dollar cales. The following transactions occurred.What is the balance of the Estimated Warranty Liability account as of December $31?$Estmatod $=$irranty labiety bilince