Journalize the Following Transactions for Riley Corporation: Dec $\quad$ The Accrued Product Warranty Expense for the Year Is Estimated

Journalize the following transactions for Riley Corporation: Dec. 31 $\quad$ The accrued product warranty expense for the year is estimated to be $2.5 \%$ of sales. Sales for the year totaled $\$ 8,850,000$ .
31 $\quad$$\quad$$\quad$ The accrued vacation pay for the year is estimated to be $\$ 75,000$ .
31 $\quad$$\quad$$\quad$ Paid First Insurance Co. $\$ 55,000$ as fund trustee for the pension plan. The annual pension cost is $\$ 87,000$ .

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