Journalize the following transactions for Riley Corporation: Dec. 31 The accrued product warranty expense for the year is estimated to be 4% of sales. Sales for the year totaled $5,550,000. 31 The accrued vacation pay for the year is estimated to be $47,000. 31 Paid First Insurance Co. $42,000 as fund trustee for the pension plan. The annual pension cost is $52,000.