A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the curent year's vacation pay is 5163,600 Required: a. Joumalize the adjusting entry required on lanuary 31, the end of the first month of the curnent year, to record the accrued vacation payy. Aefer io the chart of accounts for the exact wording of the account tithes. CNOW joumais do not use lnes for foumal oxplanations Every ane on a journal page is used for dobit ar credit entries. CNOWjoumnts will automatically indent a creat entry when a credit amount is entered Round your finat answer to the nearest dollar. b. How is the vacation pay reported on the company's balance sheer? When is this amount romoved trom the company's balance sheet