More info Nov. 1 Made sales of $49,000. McGinn estimates that warranty expense is 4% of sales. (Record only the warranty expense.) Paid $200 to satisfy warranty claims. - X Nov. 20 Dec. 31 Estimated vacation benefits expense to be $2,000. Dec. 31 McGinn expected to pay its employees a 4 bonus on net income after deducting the bonus. Net income for the year is $50,000. st v Print Done