A Company began operations on January 2, 2015. Data related to paid vacation benefits are as follows:

• Thecompanyemploys15peoplewhowork8-hourdays.
• Eachemployeeearns10paidvacationdaysannually.
• VacationdaysmaybetakenafterJanuary10oftheyearfollowingtheyearinwhichtheyareearned.
• Theaveragehourlywageratewas$20.00in2015and$21.25in2016.
• Theaveragevacationdaysusedbyeachemployeein2016was9.
• Managementaccruesthecostofcompensatedabsencesatratesofpayineffectwhenearned.

Using the attached T-account template, prepare the required entries, in T-account format, to recognize 2015 and 2016 payroll transactions related to paid vacation days during 2015 and 2016. (show all work)

Assets Current Assets Property, Plant & Equipment = Investments Intangible Assetl/Other Liabilities Current Liabilities Non-Current Liabilities + Contributed Capital Equity Earned Capital Accumulated OCI