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Samuel Industries has six employees. Each employee earns one vacation day a month. Samuel pays its employees a weekly salary of $1,500 for a five-day
Samuel Industries has six employees. Each employee earns one vacation day a month. Samuel pays its employees a weekly salary of $1,500 for a five-day workweek. Requirements 1. Determine the amount of vacation expense for one month. 2. Journalize the entry to accrue the vacation expense for the month. Requirement 1. Determine the amount of vacation expense for one month. Select the correct formula and calculate Samuel Industries' vacation expense for one month. (Abbreviations used: Ees = Employees; Mo. = Month; Wk. = Week.) Mo. vacation exp. Requirement 2. Journalize the entry to accrue the vacation expense for the month. (Record debits first , then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next
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