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Employees eam vacation pay at a rate of one day per month. The company estimated and must expense $1,500 of accrued vacation benefits for the
Employees eam vacation pay at a rate of one day per month. The company estimated and must expense $1,500 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 $1.500, credit Prepaid Vacation St,500. Debit Vacation Benefits Expense $1.500, credit Vocation Benefits Payable 51,500 O Debit Payroll Tax Experte $1.500 credit Payroll Taxes Payable $1.500 Debit Prepaid Vacation Benefits 51500, credit Vacation Benefits Payablo $1,500, Debit Vacation Benefits Expense $1,500, credit Prepaid Vacation $1,500 Debit Vacation Benefits Expense $1,500, credit Vacation Benefits Payable $1,500. Debit Payroll Tax Expense $1,500; credit Payroll Taxes Payable $1,500. Debit Prepaid Vacation Benefits $1,500, credit Vacation Benefits Payable $1,500. Debit Prepaid Benefits Payable $1,500; credit Vacation Benefits Expense $1,500
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