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Estimated warranty liability Savory sold $654,000 of consumer electronics during July under a six-month warranty. The cost to repair defects under the warranty is estimated at 7% of the sales pric On November 11 , a customer was given $112 cash under terms of the warranty. a. Provide the journal entry for the estimated warranty expense on July 31 for July sales. If an amount box does not require an entry, leave it blank. Feedback Check My Work Contingent liability entries are needed when the amount can be reasonably estimated and the liability is probable. Recorded contingent liabilies matching concept. Contingent liabilities are an accrued expense adjusting entry. Vacation pay and pension benefits Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacion pension formula determined a pension cost of $268,000. Only $16,080 was contributed to the pension plan administrator. a. Journalize the entry to record the vacation pay. If an amount box does not require an entry, leave it blank. Feedback Check My Work b. Journalize the entry to record the pension benefit. If an amount box does not require an entry, leave it blank. Estimated warranty liability Savory sold $654,000 of consumer electronics during July under a six-month warranty. The cost to repair defects under the warranty is estimated at 7% of the sales pric On November 11 , a customer was given $112 cash under terms of the warranty. a. Provide the journal entry for the estimated warranty expense on July 31 for July sales. If an amount box does not require an entry, leave it blank. Feedback Check My Work Contingent liability entries are needed when the amount can be reasonably estimated and the liability is probable. Recorded contingent liabilies matching concept. Contingent liabilities are an accrued expense adjusting entry. Vacation pay and pension benefits Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacion pension formula determined a pension cost of $268,000. Only $16,080 was contributed to the pension plan administrator. a. Journalize the entry to record the vacation pay. If an amount box does not require an entry, leave it blank. Feedback Check My Work b. Journalize the entry to record the pension benefit. If an amount box does not require an entry, leave it blank