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John's TailoringCompany has a weekly payroll of $18,375 and grants two weeks' vacation after one year's employment, which amounts to 4% of annual pay. Based
John's TailoringCompany has a weekly payroll of $18,375 and grants two weeks' vacation after one year's employment, which amounts to 4% of annual pay. Based on past turnover rates, the employer estimates that 80 percent of employees actually will be granted vacation time
general journal entry to record the estimated vacation pay resulting from the weekly payroll.
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