Answer Happy

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 $4,560 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 $138,000. The company expects 10% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $12.

View transaction list Journal entry worksheet < A B Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $4,560 of accrued vacation benefits for the year. Record the related adjusting entry. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal

View transaction list Journal entry worksheet < During December, Maxum Company sold 3,200 units of a product that carries a 60-day warranty. December sales for this product total $138,000. The company expects 10% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $12. Record the related adjusting entry. Note: Enter debits before credits. A B Transaction 2 Record entry General Journal Clear entry Debit Credit View general journal