Lyon Capital Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation

Question:

Lyon Capital Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $\$ 52,300$ for the period. The pension formula calculated a pension cost of $\$ 123,000$. Only $\$ 100,000$ was contributed to the pension plan administrator.

Provide the journal entry for the

(a) vacation pay and

(b) pension benefit.

objs. $2,3,4$

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