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Ch 09 Ex 9-26 Exercise 9-12 Accounting for estim ated liabilities LO P4 Listed below are d 1 Employees earn vacation pay at a rate of one dey per month Durinig December 30employees qisalify lor one vacation day eath Their average daily wage is $150 per ethiployee 2 During December Maxum Company sokd 5.000 unes of a product that caries a 60-day waranty Decembes sales for thhs pr total $130,000. The company expects 8% of the units to need warranty be $14 repairs, and It esamates the average repair cost per unt wll Prepare ony necessary adjusting entries at December 31, 2017, for Maxum Company's year-end financial statements for each of the above separate transactions and events Journal entry worksheet Empinyees earn vacation pay at a rate of one day per mosch. During December, 30 amployees quality for one vacation day each. Their average daily wage is $150 per employes. Record the relsted adjyeting entry. Note: Cnter debts before credts Type here to search