Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit 2019 Salaries and Wages Expense 11971.20 Salaries and Wages Payable 11971.20 (To accrue the expense and liability for vacations) Salaries Wages Expense 4800.00 Cash 4800.00 (To record sick leave paid) No Entry 0 No Entry (To record vacation time paid) 2020 Salaries and Wages Expense 12921.60 Salaries and Wages Payable 12921.60 (To accrue the expense and liability for vacations) Salaries and Wages Expense 6240 Cash 6240 (To record sick leave paid) Salaries and Wages Expense 424 1 Salaries and Wages Payable 9976 Cash 10400 (To record vacation time paid) (b) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020. (Round answers to decimal places, eg. 5,125.) 2019 2020 Accrued liability $ $ $