Vacation pay and pension benefits Obj. 3 Regling Company provides its employees vacation benefits and a defined benefit pension plan.

Employees earned vacation pay of $40,000 for the period. The pension formula calculated a pension cost of $222,750. Only $185,000 was contributed to the pension plan administrator.

Journalize the entry to record the

(a) vacation pay and

(b) pension benefit.

AppendixLO1