#6 Saved 9 Exercise 9-15 (Algo) Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company. 4 points eBook Help Save & Exit Submit 1. Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $7,590 of accrued vacation benefits for the year. 2. During December, Maxum Company sold 4,400 units of a product that carries a 60-day warranty. December sales for this product total $132,000. The company expects 10% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $16. Prepare adjusting entries at December 31 for Maxum Company's year-end financial statements for each of the above separate transactions. References View transaction list Journal entry worksheet < A B Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $7,590 of accrued vacation benefits for the year. Record the related adjusting entry. Mc Graw Hill Note: Enter debits before credits. Transaction 1 General Journal Debit Credit > Record entry Clear entry View general Journal < Prev 9 of 25 Next > Check my work Homework #6 Saved 9 Exercise 9-15 (Algo) Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company. 4 points eBook Help Save & Exit Submit 1. Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $7,590 of accrued vacation benefits for the year. 2. During December, Maxum Company sold 4,400 units of a product that carries a 60-day warranty. December sales for this product total $132,000. The company expects 10% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $16. Prepare adjusting entries at December 31 for Maxum Company's year-end financial statements for each of the above separate transactions. References View transaction list Journal entry worksheet < A B During December, Maxum Company sold 4,400 units of a product that carries a 60-day warranty. December sales for this product total $132,000. The company expects 10% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $16. Record the related adjusting entry. Note: Enter debits before credits. Mc Graw Hill Transaction 2 General Journal Debit Credit Record entry Clear entry View general Journal < Prev 9 of 25 Next > Check my work