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I need help with the debit and credit dollar amounts for required 1 and required 2. On January 1, 2024, Poplar Fabricators Corporation agreed to

I need help with the debit and credit dollar amounts for "required 1" and "required 2". image text in transcribed
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On January 1, 2024, Poplar Fabricators Corporation agreed to grant its employees two weeks of vacation each year, with the stipulation that vacations earned each year can be taken the following year. For the year ended December 31, 2024, Poplar Fabricators' employees each earned an average of $800 per week. Nine hundred vacation weeks eamed in 2024 were not taken during 2024 Required: 1. Prepare the appropriate adjusting entry for vacations earned but not taken in 2024. 2. Suppose that, by the time vacations actually are taken in 2025, salary rates for employees have risen by an average of 5 percent from their 2024 level. Also, assume salaries eamed in 2025 (including vacations earned and taken in 2025) were $31 milion. Prepare a journal entry that summarizes 2025 salaries and the payment for 2024 vacations taken in 2025. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 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 fieid. 1. Prepare the appropriate adjusting entry for vacations earned but not taken in 2024. 2. Suppose that, by the time vacations actually are taken in 2025 , salary rates for employees have risen by an average of 5 percent from their 2024 level. Also, assume salaries earned in 2025 (including vacations earned and taken in 2025) were $31 million. Prepare a journal entry that summarizes 2025 solaries and the payment for 2024 vacations taken in 2025. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Suppose that, by the time vacations actually are taken in 2025 , salary rates for employees have risen by an average of 5 percent from their 2024 level. Also, assume salarios eamed in 2025 (induding vacations earmed and token in 2025) were 531 million. Prepore a journal entry that summarizes 2025 salaries and the payment for 2024 vacations taken in 2025. Note: Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No joumat entry required" in the first account field

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