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Exercise 9-12 Accounting for estimated liabilities LO P4 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 $10,330 of accrued vacation benets for the year. 2. During December, Maxum Company sold 3.800 units of a product that carries a 60~day warranty. December sales for this product total $134,000. The company expects 6% of the units to need warranty repairs. and it estimates the average repair cost per unit will be $13. Prepare adjusting entries at December 31 for Man-tum Company's year-end financial statements for each of the above separate transactions. View transaction "it Journal entry worksheet During December, Maxum Company sold 3,800 units of a product that carries a 60-day warranty. December sales for this product total $134,000. The company expects 6% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $13. Record the related adjusting Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal