Help Save &Exilt Submit 10 Check my work Exercise 9-12 Accounting for estimated liabilities LO...
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Help Save &Exilt Submit 10 Check my work Exercise 9-12 Accounting for estimated liabilities LO P4 Listed below are a few transactions and events of Maxum Company earn vacation pay at a rate of one day per month. During December, 36 employees qualify for one vacation day each. Their average daily wage is $250 per employee. ped 2. During December, Maxum Company sold 4,900 units of a product that carries a 60-day warranty. December sales for this product total $129,000. The company expects 9% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $18. Prepare any necessary adjusting entries at December 31, 2017, for Maxum Company's year-end financial statements for each of the above separate transactions and events. Journal entry worksheet Employees earn vacation pay at a rate of one day per month. During December, 36 employees qualify for one vacation day each. Their average daily wage is $250 per employee. Record the related adjusting entry Prev 6 of Next
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