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On January 1, 2024, G Corporation agreed to grant all its employees two weeks paid vacation each year, with the stipulation that vacations earned each
On January 1, 2024, G Corporation agreed to grant all its employees two weeks paid vacation each year, with the stipulation that vacations earned each year can be taken the following year. For the year ended December 31, 2024, G's employees each earned an average of $800 per week. A total of 500 vacation weeks earned in 2024 were not taken during 2024. Wage rates for employees rose by an average of 5 percent by the time vacations actually were taken in 2025. What is the amount of G's 2025 salaries expense related to 2024 vacation time?
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