QS 9-8 Accounting for vacations LO P4

Chavez Co.s salaried employees earn four weeks' vacation per year. It pays $312,000 in total employee salaries for 52 weeks, but its employees work only 48 weeks. This means Chavezs total weekly expense is $6,500 ($312,000/48 weeks) instead of the $6,000 cash paid weekly to the employees ($312,000/52 weeks). Prepare the journal entry to record Chavezs weekly vacation benefits expense.