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RYou are the bookkeeper for a school and need to record the accrual for teacher vacation pay that has been earned during the last pay
RYou are the bookkeeper for a school and need to record the accrual for teacher vacation pay that has been earned during the last pay period.
What is the appropriate accounting journal entry?
A Debit to Travel Expense, Credit to Payroll Taxes Payable
Debit to Employee Benefit Expense, Credit to Prepaid Expense
Debit to Employee Vacation Payable, Credit to Accounts Payable
Debit to Payroll Expense, Credit to Employee Vacation Payable
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