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Oslo Co, began operations on January 1, 2020. It employs 16 people who work 8-hour days. Each employee earns 10 paid vacation days annually Vacation

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Oslo Co, began operations on January 1, 2020. It employs 16 people who work 8-hour days. Each employee earns 10 paid vacation days annually Vacation days may be taken after January 15 of the year following the year in which they are earned The average hourly wage rate was $25 in 2020 and $28 in 2021. The employees did not use any vacations days in 2020. The average vacation days used by each employee in 2021 was 8 Oslo Co accrues the cost of compensated absences at rates of pay in effect when earned Instructions Prepare journal entries to record the transactions related to paid vacation days during 2020 and 2021 (Note: you may not use all rows of the provided tables to record journal entries) 1 A B 1 (1) 2020: to accrue the expense and liability for compensated vacation days Dr. Cr (2) 2021: to accrue the expense and liability for compensated vacation days DI CF (3) 2021:To record payment for compensated vacations when used by employees Dr Cr. (1) 2020: to accrue the expense and liability for compensated vacation days . Dr. Cr. (2) 2021: to accrue the expense and liability for compensated vacation days Dr Cr. (3) 2021: To record payment for compensated vacations when used by employees Dr. Cr

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