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Olympic Corp. has an employee benefit plan for compensated absences that gives each employee 15 paid vacation days. Vacation days can be carried over Indefinitely.

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Olympic Corp. has an employee benefit plan for compensated absences that gives each employee 15 paid vacation days. Vacation days can be carried over Indefinitely. Employees can elect to receive payment m lieu of vacation days. At December 31, 2016, Olympic's unadjusted balance of liability for compensated absences was $26,400. Olympic: estimated that there were 200 total vacation days available at December 31, 2016. Olympic^employees earn an average of $132 per day. In Its December 31, 2016. balance sheet what amount of liability for compensated absences Is Olympic required to report? $198.000 $396.000 $. $26.400

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