Listed below are a few transactions and events of Maxum Company. 1. Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $11,020 of accrued vacation benefits for the year. 2. During December, Maxum Company sold 4,600 units of a product that carries a 60 -day warranty. December sales for this product total $134,000. The company expects 9% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $11. Prepare adjusting entries at December 31 for Maxum Company's year-end financial statements for each of the above separate transactions. A Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $11,020 of accrued vacation benefits for the year. Record the related adjusting entry