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Pink Incorporated, a calendar year, accrual basis corporation, accrued $278,000 vacation pay expense and a corresponding liability at the end of 2021. Pink paid $22,000
Pink Incorporated, a calendar year, accrual basis corporation, accrued $278,000 vacation pay expense and a corresponding liability at the end of 2021. Pink paid $22,000 of the accrued liability to employees who took vacation between January 1 and March 15, 2022. Furthermore, Pink paid $56,000 of the accrued liability to employees who took vacation between March 16, 2022 and June 1, 2022. How much of the accrued vacation pay expense is deductible in 2021?
Group of answer choices $0 $22,000 $56,000 $78,000
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