Question 1 of 4 0.74/2.5 = View Policies Show Attempt History Current Attempt in Progress Bonita Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by Each Employee 2019 2020 2019 2020 2019 2020 $10 $11 9 4 5 Bonita Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting. The company used the following projected rates to accrue vacation time. Year in which Vacation Projected Future Pay Rates Used to Accrue Vacation Pay Time Was Earned 2019 $10.86 2020 11.72 (a) (a) Your answer is partially correct. 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 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 7200 Salaries and Wages Payable 7200 (To accrue the expense and liability for vacations) Salaries and Wages Expense 4320 Salaries and Wages Payable 4320 (To record sick leave paid) Salaries and Wages Expense 2880 Cash 2880 (To record vacation time paid) Question 1 of 4 0.74 / 2.5 = (To record vacation time paid) 2020 Salaries and Wages Expense 7920 Salaries and Wages Payable 7920 (To accrue the expense and liability for vacations) Salaries and Wages Expense 4752 Salaries and Wages Payable 4750 (To record sick leave paid) Salaries and Wages Expense 648 Salaries and Wages Payable 6480 Cash 7128 (To record vacation time paid) e Textbook and Media List of Accounts Save for Later Attempts: 1 of 2 used Submit Answer (b)