please answer 8&9

00 Exercise 9-12 Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company - 1. Employees eam vacation pay at a rate of one day per month. During December 24 employees qualify for one vacation day cach. Thelt average daily wage is $10 per employee 2. During December, Maxum Company sold 3700 units of a product that carries a 60-day warranty, December sales for this product total $133,000. The company expects 6% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $19. 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 Journal entry worksheet Employees earn vacation pay at a rate of one day per month. During December, 24 m oyees quality for one action day each. The average daily wage is $10 per employee Record the related adjusting entry Prepare any necessary adjusting entries at December 31, 2017 for Maxum Company's year-end financial statements for each of above separate transactions and events View transaction list Journal entry worksheet Employees carn vacation pay at a rate of one day per month. During December, 24 employees qualify for one vacation day each. Their average daily wage is $180 per employee. Record the related adjusting entry. Notenter debts before credits Transaction General Journal Credit Record entry Clear entry View general al 8 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 During December, Maxum Company sold 3,700 units of a product that carries a 60-day warranty. December sales for this product total $133,000. The company expects 6% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $19. Record the related adjusting Note: Enter debts before credits Transaction General Journal Debit Credit Recordemy Clear View all Exercise 9-13 Accounting for contingent liabilities LO C3 Listed below are a few transactions and events of Melbourn Company 1. Melbourn Company guarantees the $100.000 debt of a supplier it is not probable that the supplier will default on the debt 2. A disgruntled employee is suing Melbourn Company, Legal advisers believe that the company will probably need to pay damages, but the amount cannot be reasonably estimated Indicate the proper financial reporting for each case. Requires