journal

Required information Liabilities for health and pension benefits, warranties, and bonuses are recorded with estimated amounts. These items are recognized as expenses when incurred and matched with revenues generated. Knowledge Check 01 Assume that salaried employees of Mayer, Inc., earn 2 weeks of vacation per year. The salaried employees earn a total of $160 each pay period. Mayer's first payroll of the year is on January 7. Prepare the January 7 journal entry for Mayer by selecting the account names from the drop down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet Assume that salaried employees of Mayer, Inc., earn 2 weeks of vacation per year. The salaried employees earn a total of $160 each pay period. Mayer's first payroll of the year is on January 7. Note: Enter debits before credits. Date General Journal Debit Credit Jan 1