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554 PE 11-6A Vacation pay and pension benefits OBJ. 4 Fukushima Company provides its employees with vacation benefits and a defined contribu tion pension plan.
554 PE 11-6A Vacation pay and pension benefits OBJ. 4 Fukushima Company provides its employees with vacation benefits and a defined contribu tion pension plan. Employees earned vacation pay of $19,500 for the period. The pension plan requires a contribution to the plan administrator equal to 6% of employee salaries. Salaries were $260,000 during the period, and the ful amount due was contributed to the pension plan administrator. Provide the journal entry for the (a) vacation pay and (b) pension benefit
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