Kelly Howard Has the Following Transactions

question 74

Essay

Kelly Howard has the following transactions. Prepare the journal entries.Dec. 31The accrued product warranty expense for the year is estimated to be 2.3% of sales. Sales for the year totaled $6,005,000.31The accrued vacation pay for the year is estimated to be $75,225.31Paid Reliable Insurance Co. $275,000 as fund trustee for the pension plan. The annual pension cost is $350,000.

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Definitions:

Primary Reinforcer

An innately satisfying stimulus, such as food or warmth, that does not require any learning to become desirable.

Salient

Referring to something that is prominent, significant, or conspicuous in a particular context.

Extinction

In behavioral psychology, the gradual weakening and eventual disappearance of a conditioned response when the reinforcement is no longer offered.

Punishment

A consequence applied to decrease or eliminate an unwanted behavior, typically involving either physical or psychological discomfort.