Exercise 9-16 (Static) Accounting for health and pension benefits LO P4 Vander Company provides medical care and insurance benefits to its retirees. In the current year, Vander agrees to pay $9,500 for medical insurance and contribute an additional 5% of the employees' $200,000 gross salaries to a retirement program (1) Record the entry for these accrued (but unpaid) benefits on December 31. (2) Assuming $5,000 of the retirement benefits are not to be paid for five years, how should this amount be reported on the current balance sheet? % Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the entry for these accrued (but unpaid) benefits on December 31. No Date General Journal Debit Credit 1 December 31 9,500 X Employee benefits expense Employee retirement program payable Employee benefits plan payable 10,000 19,500 X Required Required 2 >