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Listed below are a few transactions and events of Maxum Company 1. Employees earn vacation pay at a rate of one day per month. During
Listed below are a few transactions and events of Maxum Company 1. Employees earn vacation pay at a rate of one day per month. During December,21 employees qualify for one vacation day each Their average daily wage is $280 per employee. 2 During December, Maxum Company sold 3,700 unts of a product that carries a 60-day warranty December sales for this product total $133,000. The company expects 8% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $18 Prepare any necessary adjusting entries at December 31, 2017, for Maxum Company's year-end financial statements for each of the above separate transactions and events. View transaction list Journal entry worksheet 2 Employees earn vacation pay at a rate of one day per month. During December, 21 employees qualify for one vacation day each. Their average daily wage is $280 per employee. Record the related adjusting entry. Note: Enter debits before cred ts
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