A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The ostimated amount of the current year's vacation pay is $40,800 Required: A Joumalize the adusting entry required on January 31, the end of the frst month of the current year, to recored the accrued vacation pay Refer to the Chart of Accounts for axact wording of account otes B. How is the vacation pay reported on the compary's balance sheet? When is his amount removed from the oompany's balance sheer