Question

MacDonald Industries completed the following transactions during 2016:
Nov. 1 Made sales of $32,000. MacDonald estimates that warranty expense is 6% of sales. (Record only the warranty expense.)
20 Paid $1,400 to satisfy warranty claims.
Dec. 31 Estimated vacation benefits expense to be $4,500.
31 MacDonald expected to pay its employees a 6% bonus on net income after deducting the bonus. Net income for the year is $58,000.
Nov. 1 Made sales of $32,000. MacDonald estimates that warranty expense is 6% of sales. (Record only the warranty expense.)
20 Paid $1,400 to satisfy warranty claims.
Dec. 31 Estimated vacation benefits expense to be $4,500.
31 MacDonald expected to pay its employees a 6% bonus on net income after deducting the bonus. Net income for the year is $58,000.
Journalize the transactions (explanations are not required).


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  • CreatedJune 15, 2015
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