CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 13-04 Ivanhoe Company began operations on January 2, 2019. It employs 10 individuals who works-hour days and are paid hourly. Each employer cams 11 paid vacation days and paid sick days annually Vacation days may be taken after January 15 of the year following the year in which they are cared. Sick days may be taken as soon as they are carned; unused sick days accumulate. Additional information is as follows, Actual Hourly Vacation Days Used Sick Days Used Wage Rate by Each Employee by Each Employee 2019 2020 2019 2020 2019 2020 $11 $12 0 10 Ivanhoe Company has chosen not to accrue paid sick leave until used and has chosen to accrue vacation time at expected future rates of day without discounting. The company uted the following projected rates to accrue vacation time. Year in which Vacation Projected Future Pay Rates Time Was Earned Used to Accrue Vacation Pay $11.19 2020 12.76 2019 Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (Il ne entry is required, select "No Entry for the account titles and enter o for the amounts Credit account titles are automatically indented when amount is entered. Do not ledent manually. Round answers to decimal places 9. 3.125 nment CALCULATOR FULL SCREEN PETER VERSION # RACK Debit Credit Date Account Titles and Explanation 2019 (To acce the expense and Bablity for vacations) (To record sick leave paid) To record Vacation time pad) 2020 (To accrue the expense and liability for vacations) (To record sick leave paid) (To record sick leave paid) (To record vacation time paid) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020. (Round answers to decimal places, e.. 5.125.) 2019 2020 Accrued liability Click if you would like to Show Work for this question: Open Show Work