Required information Learning Objective 11-P4: Account for estimated liabilities, including warranties and bonuses. Liabilities for health and pension benefits, warranties, and bonuses are recorded with estimated amounts. These items are recognized as expenses when incurred and matched with revenues generated. Health and Pension Benefits As of December 31, Marr, Incorporated, has accrued benefits to its employees for medical insurance (in the amount of $12,000 ) and a contribution to a retirement program (at 10% of the employees' $200,000 gross salary). Prepare the December 31 entry for Marr by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. Journal entry worksheet As of December 31, Marr, Inc., has accrued benefits to its employees for medical insurance (in the amount of $12,000 ) and a contribution to a retirement program (at 10% of the employees' $200,000 gross salary)