Culver Limited began operations on January $2,2022.$ Culver employs $7$ individuals who work eight$-$hour days and are paid hourly. Each employee earns $10$ 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:

$\backslash$table$[[\backslash$table$[[$Actual Hourly$],[$Wage Rate$]],\backslash$table$[[$Vacation Days$],[$Used$],[$by Each Employee$]],\backslash$table$[[$Sick Days Used$],[$by Each$],[$Employee$]]],[2022,2023,2022,2023,2022,2023],[$$$20\mathrm{.}00,$$$21\mathrm{.}00,0,9,4,5]]$

Assume that Culver Limited has chosen not to recognize paid sick leave until it is used, and has chosen to accrue vacation time at expected future rates of pay without discounting. Culver uses the following projected rates to accrue vacation time:

Year in Which Vacation Time

Was Earned

$2022$

$2023$

Projected Future Pay Rates Used

to Accrue Vacation Pay

$$20\mathrm{.}75$ per hour

$$21\mathrm{.}60$ per hour

Date

Account Titles and Explanation

Debit

Credit

$($To accrue the expense and liability for vacations$)$

$($To record vacation time paid$)$

$($To accrue the expense and liability for vacations$)$

$($To record vacation time paid$)$