Prepare jlnal entry to record Well lington Ltd's liability for employee benc arrangement at the end of the reporting period. proit-sharing ACCOUNTING FOR LONG SERVICE LEAVE Exercise 9.7 Victoria Ltd provides long service leave entitlement of 1 employment. The provision for long service leave had a credit balance of $140000 at 30 June 2016. During the year ended 30 June 2017, long service leave of $25 000 was paid. At the end of the year, the present value of the defined benefit obligation for long service leave was $150000. Required Prepare all journal entries in relation to long service leave for the vear ended 30 June 2017. 3 weeks of paid leave after 10 years of continuous on nrruED CONTRIRUTION SUPFRANNUATION PLANS