Exercise 9-12 Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company L Employees earn vacation pay at a rate of one dey per month. During December, 38 employees quality for one vacation day each. Their average daily wage is $230 per employee 2. During December, Maxum Company sold 3,100 units of a product that carries a 60-day warranty. December sales for this product total 124,000. The company expects 8% of the units to need warranty repairs, and be $15 it estimates the average repair cost per unit will Prepare any necessary adjusting entries at December 31, 2017, for Maxum Company's year-end financial statements for each of the above seporate transactions and events View transaction ist Journal entry worksheet Employees earn vacation pay at a rate of one day per month. During December, 38 employees qualify for one vacation day each. Their average daily wage is $230 per employee. Record the related adjusting entry Exercise 9-12 Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company t Employees eem yacetion pay t rere er Duing December 38 employees qualily for one vacation day eaech ees qualify for one vacation day eac Their average daily wage is $230 per employee 2 During December, Maxum Company sold 3,100 units of a product that carries a 60-day warranty. December sales for this product total $124,000. The cornpany expects 8% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $15. Prepare any necessary adjusting entries at December 31, 2017, for Maxum Company's year end financial statements for each of the obove separate transactions and events View transaction list Journal entry worksheet During December, Maxum Company sold 3,100 units of a product that carries a 60-day warranty. December sales for this product total $124,000. The company expects 8% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $15. Record the related adjusting