53. (6 Points) Journalize the following transactions (for each Journal Entry, omit the step of providing a brief explanation) Dec. 31 The accrued product warranty for the year is estimated to be 1.5% of net sales. Sales for the year totaled $9,000,000, and sales returns and allowances were $120,000. 31 The accrued vacation pay for the year is estimated to be $80,000. Paid Life Way Insurance Co. 585,000 as fund trustee for the pension pian. The annual pension cost is $98.000. JOURNAL 31 Post. DR CR Date 1231 12/31 12/31