12/31 We offer our employees vacation time which has accrued for the year amounting to $42,000

12/31 We offer our employees a defined pension benefit amounting to a cost of $300,000. We paid the trustee $225,000.

12/31 We offer our customers a product warranty on their purchases which we estimate it to be 5% of our net sales of $650,000.

REQUIRED: Journalize the above transactions. SHOW THE WORK OF HOW YOU CAME UP WITH THE ANSWERS