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Journalize the following transactions for Riley Corporation:Dec. 31The accrued product warranty expense for the year is estimated to be 2.5% of sales. Sales for the year totaled $8,850,000.31The accrued vacation pay for the year is estimated to be $75,000.31Paid First Insurance Co. $55,000 as fund trustee for the pension plan. The annual pension cost is $87,000.
Addicted
Having a compulsive, physiological or psychological need for a habit-forming substance, behavior, or activity.
Benefits
Advantages or favorable outcomes derived from actions, policies, or products.
Unclean Needles
Needles that have been used and not sterilized, posing a risk of transmitting infections.
AIDS
Acquired Immune Deficiency Syndrome, a life-threatening condition caused by the human immunodeficiency virus (HIV), compromising the immune system.
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