Teal 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 $15 $18 0 9 4 5 Teal 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 $16.00 2020 17.50 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 O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2019 Salaries and Wages Expense 10800 Salaries and Wages Payable 10800 (To accrue the expense and liability for vacations) Salaries and Wages Expense 6480 Salaries and Wages Payable 6480 (To record sick leave paid) Salaries and Wages Payable 4320 LA NATO Cash 4320 (To record vacation time paid) 2020 Salaries and Wages Expense 12960 Salaries and Wages Payable 12960 (To accrue the expense and liability for vacations) Salaries and Wages Expense 7776 Salaries and Wages Payable 7776 (To record sick leave paid) Salaries and Wages Expense 9720 Salaries and Wages Payable 9720 Cash 6048 (To record vacation time paid)