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The following information pertains to Rik Co.'s two employees: Name Weekly Salary No. of Weeks worked in 20x6 Vacation rights vest or accumulated Ryan 800
The following information pertains to Rik Co.'s two employees:
Name Weekly Salary No. of Weeks worked in 20x6 Vacation rights vest or accumulated
Ryan 800 52 YES
Todd 600 52 NO
Neither Ryan nor Toddntook the usual two-week vacation in 20x6. In Rik's December 31, 20x6, financial statements, what amount of vacation expense and liability should be reported? show the solution and explain.
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