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Sunset, Inc. has a policy of accruing $1,600 for every employee as a vacation benefit. Sarah, an employee, took a vacation. Which of the following
Sunset, Inc. has a policy of accruing
$1,600
for every employee as a vacation benefit. Sarah, an employee, took a vacation. Which of the following is the correct journal entry for the vacation benefit paid?
A.
Vacation Benefits Expense | 1,600 | |
Cash | 1,600 |
B.
Vacation Benefits Payable | 1,333 | |
Vacation Benefits Expense | 1,333 |
C.
Vacation Benefits Expense | 1,333 | |
Vacation Benefits Payable | 1,333 |
D.
Vacation Benefits Payable | 1,600 | |
Cash | 1,600 |
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