Martin Services Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $$42,000$ for the period. The pension plan requires a contribution to the plan administrator equal to $10\%$ of employee salaries. Salaries were $$800,000$ during the period.

Question Content Area

a$.$ Provide the journal entry for the vacation pay. If an amount box does not require an entry, leave it blank.

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Question Content Area

b$.$ Provide the journal entry for the pension benefit. If an amount box does not require an entry, leave it blank.

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