CH $11$ #$9$

Listed below are a few transactions and events of Maxum Company.

Employees earn vacation pay at a rate of one day per month. Maxum estimated and must

expense $$5,100$ of accrued vacation benefits for the year.

During December, Maxum Company sold $3,800$ units of a product that carries a $60-$day

warranty. December sales for this product total $$123,000.$ The company expects $6\%$ of the

units to need warranty repairs, and it estimates the average repair cost per unit will be $$18.$

Prepare adjusting entries at December $31$ for Maxum Company's year$-$end financial statements for

each of the above separate transactions.

Journal entry worksheet

Employees earn vacation pay at a rate of one day per month. Maxum

estimated and must expense $$5,100$ of accrued vacation benefits for the year.

Record the related adjusting entry.

Note: Enter debits before credits.Listed below are a few transactions and events of Maxum Company.

Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $$5,100$ of accrued vacation benefits for the year.

During December, Maxum Company sold $3,800$ units of a product that carries a $60-$day warranty. December sales for this product total $$123,000.$ The company expects $6\%$ of the units to need warranty repairs, and it estimates the average repair cost per unit will be $$18.$

Prepare adjusting entries at December $31$ for Maxum Company$$s year$-$end financial statements for each of the above separate transactions.