Answer the following assuming a balance date of 30 June 2016. Journal narrations are not required.

Vickery Ltd, a small Australian service company, has 10 employees. The current annual payroll for these employees is $375,000. The employees are entitled to four weeks of annual leave and a leave loading of 17.5%.

Calculate the annual cost of the leave andprovide a general journal entry to record the weekly accrual of annual leave.