The waste ink error is based upon time instead of actual volume in the tank. You can reset the counter by the instructions below.
Waste Ink Counter Reset.(1) Turn off the printer. (2) Press and hold the STOP/RESET button, then press and hold the POWER button. (3) Release the STOP/RESET button, Next press and release the STOP/RESET button two(2) more times insuccession. Note: you are still holding the POWER button). The printer's carriage will "reset" or move momentarily. If the above was properly performed the printer will enter the "Service Mode". (4) Press the STOP/RESET button 4 times, this will select the clear waste ink counter function. The lamp will alternate (change) color with each key press. 1. Service/Factory test printout, including ink sensor check. 2. EEPROM - Info printout. 3. EEPROM - Initialization.4. Reset the Waste ink counter.5. Printer model setting. (More selections beyond this point - However it is best leave them unaltered - You have been warned!) After selecting the desired mode (eg 4), press the POWER button to "set" the change, and return to the top of the function selection menu. Press the POWER button again to restart the printer.
That is a different error. I found that one on Canon's website. Below is exactly what canon says.
Issue: ERROR LCD: Error Code 5B00
Solution: The MX310 may require repair
Unfortunately, the issue you describe seems to indicate that your product requires repair service. Canon has excellent service options and we are eager to provide any assistance you may need. Click the link below to locate an authorized service facility and obtain further instructions.
Find a Service Location
If you still have questions about the issue you are experiencing, a Technical Support Representative will be happy to answer any question you may have. You can contact us through the email link or phone numbers listed below.
If your printer is no longer under warranty :
So we may better assist you, please make sure that you can access your Canon product and have the following information available when you call:
We look forward to helping you rectify the issue you are experiencing and are always available to provide any assistance you may need.