Based on the following information, journalize the necessary adjusting entries for Howard Company:
Dec. 31. Estimated the accrued product warranty expense for the year to be 2.3% of sales. Sales for the year totaled $6,005,000.
31. Estimated the accrued vacation pay for the year to be $75,225.
31. Paid Reliable Insurance Co. $275,000 as fund trustee for the pension plan. The annual pension cost is $350,000.