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Journalize the following transactions: (8 points) Dec 31 The acerued product warranty for the year is estimated to be 1.5% of net sales Sales for
Journalize the following transactions: (8 points) Dec 31 The acerued product warranty for the year is estimated to be 1.5% of net sales Sales for the year totaled 58,000,000, and sales returns and allowances were $120,000. 31 The accrued vacation pay for the year is estimated to be $60,000. 3) Paid Way Best Insurance C0.585,000 as fund trustee for the pension plan. The annual pension cost is 599,000
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