Jelenik Company began operations in January 2021
It has 5 employees who work 8 hour days, 5 days each week.
Each employee earns 10 paid vacation days each year.
Vacation days may be taken after January 10 of the year following the year in which they
were earned.
Jelenik accrues the cost of compensated absences at the rate of pay in effect when the
vacation days were earned.
		2021	2022
Actual hourly wage rate		$ 12	$ 14
Vacation days earned by each employee		10	10
Vacation days used by each employee		none	9
PREPARE THE JOURNAL ENTRIES TO RECORD TRANSACTIONS RELATED TO
COMPENSATED ABSENCES DURING THE TWO YEARS.