Hobson Equipment Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation

Question:

Hobson Equipment Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $20,000 for the period. The pension formula calculated a pension cost of $140,000. Only $106,000 was contributed to the pension plan administrator. Provide the journal entry for the
(a) Vacation pay and
(b) Pension benefit.