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Pharoah Co . began operations on January 2 , 2 0 2 5 . It employs 1 4 people who work 8 - hour days.
Pharoah Co began operations on January It employs people who work hour days. Each employee earns paid vacation
days annually. Vacation days may be taken after January of the year following the year in which they are earned. The average hourly
wage rate was $ in and $ in The average vacation days used by each employee in was Pharoah Co
accrues the cost of compensated absences at rates of pay in effect when earned.
Prepare journal entries to record the transactions related to paid vacation days during and Credit account titles are
automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in
the problem. If no entry is required, select No Entry" for the account titles and enter for the amounts. List all debit entries
before credit entries.
Date
Account Titles and Explanation
Debit
Credit
To record salaries and wages paid
To record salaries and wages accrued
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