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Grouper Company began operations on January 2, 2025. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 13 paid
Grouper Company began operations on January 2, 2025. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 13 paid vacation days and 8 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. Grouper Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates to accrue vacation time. (a) Prepare journal entries to record transactions related to compensated absences during 2025 and 2026. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) (To record vacation time paid) 2026 Salaries and Wages Expense 16016 Salaries and Wages Payable 16016 (To accrue the expense and liability for vacations) Salaries and Wages Expense 9856 Salaries and Wages Payable 9856 (To record sick leave paid) Salaries and Wages Payable 12584 Salaries and Wages Expense 968 Cash 13552 (To record vacation time paid) eTextbook and Media Assistance Used List of Accounts Save for Later Attempts: 1 of 2 used Submit Answer Question Part Score 0.81/2.1 (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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