Question: Proctoring Enabled: Exam Unit 4/Chapters 10 & 10 Listed below are a few transactions and events of Maxum Company Help Save & Exi Subm

Proctoring Enabled: Exam Unit 4/Chapters 10 & 10 Listed below are a

Proctoring Enabled: Exam Unit 4/Chapters 10 & 10 Listed below are a few transactions and events of Maxum Company Help Save & Exi Subm 34 0122 1. Employees eam vacation pay at a rate of one day per month. Maxum estimated and must expense $6,670 of accrued vacation benefits for the year. 2. During December, Maxum Company sold 3,600 units of a product that carries a 60-day warranty. December sales for this product total $131,000. The company expects 9% 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 Maxum Company's year-end financial statements for each of the above separate transactions View transaction list Journal entry worksheet < Employees earn vacation pay at a rate of one day per month. Maxum estimated and must expense $6,670 of accrued vacation benefits for the year. Record the related adjusting entry. Note: Enter debits before credits Transaction 1 General Journal Debit Credit

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