Journalize the Following Transactions for Riley Corporation:

Dec $\quad$

Journalize the following transactions for Riley Corporation:

Dec. $\quad$ 31 The accrued product warranty expense for the year is estimated to be 2.5% of sales. Sales for the year totaled $8,850,000.

$\quad$$\quad$$\quad$ 31 The accrued vacation pay for the year is estimated to be $75,000.

$\quad$$\quad$$\quad$ 31 Paid First Insurance Co. $55,000 as fund trustee for the pension plan. The annual pension cost is $87,000.

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