The Des Moines Ferry Company began operation on January 1, 2017. Employees earn 10 sick days and 14 vacation days per year. Both sick days and vacation days accumulate and create balance sheet liabilities for the company. Employees earn $17 per hour in 2017, $18 per hour in 2018, $19 per hour in 2019, and $17 per hour in 2020.

Sick Days Used by Each Employee:

2017	2018	2019	2020
5	7	9	13

Vacation Days Used by Each Employee:

2017	2018	2019	2020
7	9	11	11

Instructions:

1. Prepare the journal entries to record transactions related to compensated absences in 2017, 2018, 2019, and 2020.

2. Compute the amounts of any liability for compensated absences at year-end 2017, 2018, 2019, and 2020.

Please show work.