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help me . will upvote JWS Transport Company's employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay
help me . will upvote
JWS Transport Company's employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay vests immediately (that is, an employee is entitled to the pay even if employment terminatess). During 2024 , total salaries paid to employees equaled $404,000, including $4,000 for vacations actually taken in 2024 but not including vacations related to 2024 that will be taken in 2025. All vacations earned before 2024 were taken before January 1,2024 . No accrual entries have been made for the vacations. No overtime premium and no bonuses were paid during the period. Required: Prepare the appropriate adjusting entry for vacations earned but not taken in 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjusting entry for vacations earned but not taken in 2024. Note: Enter. debits before creditsStep by Step Solution
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