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Listed below are a few transactions and events of Maxum Company 1. Employees eam vacation pay at a rate of one day per month. Maxum
Listed below are a few transactions and events of Maxum Company 1. Employees eam vacation pay at a rate of one day per month. Maxum estimated and must expense $4,250 of accrued vacation benefits for the year. 2. During December Maxum Company sold 3.200 units of a product that carries a 60 day warranty. December sales for this product total $122,000 The company expects 9% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $20. Prepare adjusting entries at December 31 for Maxum Company's year-end financial statements for each of the above separate transactions View transaction list Journal entry worksheet Employees eam vacation pay at a rate of one day per month. Maxum estimated and must expense $4,250 of accrued vacation benefits for the year. Record the related adjusting entry. Not: Enter debit before credit Transaction General Journal Debit Credit 1 Recorded Clearly Vuw gee journal Journal entry worksheet A During December Maxum Company sold 3,200 units of a product that carries a 60-day warranty. December sales for this product total $122,000. The company expects 9% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $20. Record the related adjusting entry: Note: Enter debits before credits Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal
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