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Can't figure out the last 2 journal entries Question 1 of 4 0.44/1 View Policies Show Attempt History Current Attempt in Progress Monty Company began
Can't figure out the last 2 journal entries Question 1 of 4 0.44/1 View Policies Show Attempt History Current Attempt in Progress Monty Company began operations on January 2, 2019. It employs 10 individuals who work 8-hour days and are paid hourly. Each employee earns 9 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; 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 2020 2020 2019 2020 $12 $13 0 8 5 2019 2019 6 Monty Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned. Debit Credit te Account Titles and Explanation 19 Salaries and Wages Expense 8640 8640 6720 Salaries and Wages Payable (To accrue the expense and liability for vacations) Salaries and Wages Expense Salaries and Wages Payable (To accrue the expense and liability for sick pay) Salaries and Wages Payable 6720 4800 4800 Cash (To record payment for compensated time when used by employees) Salaries and Wages Expense 2020 9360 Salaries and Wages Payable 9360 In an the evnence and liability for waratinns To accrue the expense and liability for vacations) Salaries and Wages Expense 7280 7280 Salaries and Wages Payable (To accrue the expense and liability for sick pay) Salaries and Wages Expense 1040 Salaries and Wages Payable 6240 Cash 7280 (To record vacation time paid) Salaries and Wages Expense Salaries and Wages Payable Cash (To record sick leave paid)
Can't figure out the last 2 journal entries
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