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Athens Company's salaried employees earn two weeks of vacation per year. The company estimated and must expense $7,800 of accrued vacation benefits for the year.

Athens Company's salaried employees earn two weeks of vacation per year. The company estimated and must expense $7,800 of accrued vacation benefits for the year. Which of the following is the necessary year-end adjusting entry to record accrued vacation benefits?

Multiple Choice

  • Debit Vacation Benefits Expense $7,800; credit Vacation Benefits Payable $7,800.

  • Debit Vacation Benefits Expense $17,700; credit Vacation Benefits Payable $17,700.

  • Debit Vacation Benefits Expense $18,360; credit Vacation Benefits Payable $18,360.

  • Debit Vacation Benefits Payable $17,700; credit Vacation Benefits Expense $17,700.

  • Debit Vacation Benefits Payable $7,800; credit Vacation Benefits Expense $7,800.

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