Sage Company began operations on January 2, 2019 It employs 11 individuals who work 8 hour days and are paid hourly Each employee earns 12 paid vacation days and 7 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 $12 $14 0 11 5 6 Sage 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 Time Was Earned Projected Future Pay Rates Used to Accrue Vacation Pay 2019 $13 33 2020 14 38 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 O decimal places, eg 5,125 ) Date Account Titles and Explanation Debit Credit 2019 (To accrue the expense and liability for vacations) (To record sick leave paid) (To record vacation time paid) 2020 (To accrue the expense and liability for vacations) (To record sick leave paid) (To record vacation time paid)

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Sage Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 12 paid

Sage Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 12 paid vacation days and 7 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
$12	$14	0	11	5	6

Sage 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 Time Was Earned		Projected Future Pay Rates Used to Accrue Vacation Pay
2019		$13.33
2020		14.38

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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 O decimal places, eg. 5,125.) Date Account Titles and Explanation Debit Credit 2019 (To accrue the expense and liability for vacations) (To record sick leave paid) (To record vacation time paid) 2020 (To accrue the expense and liability for vacations) (To record sick leave paid) (To record vacation time paid)