Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

Exercise 23

ALiability transactions
The following items were selected from among the transactions completed by Pioneer Co. during the current year:

Instructions
1. Journalize the transactions.
2. Journalize the adjusting entry for each of the following accrued expenses at the end of the current year:
a. Product warranty cost, $27,500.
b. Interest on the nine remaining notes owed to Taylor Co.