Journalize the following transactions for Howard Company:

Dec. 31 The accrued product warranty expense for the year is estimated to be 2.5% of sales. Sales for the year totaled $6,005,000.

31 The accrued vacation pay for the year is estimated to be $77,225.

31 Paid Reliable Insurance Co. $275,000 as fund trustee for the pension plan. The annual pension cost is $340,000.