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The pension plan for GL Inc. requires a contribution to the plan administrator equal to 11% of employee salaries, salaries were $575,600 for the period.
The pension plan for GL Inc. requires a contribution to the plan administrator equal to 11% of employee salaries, salaries were $575,600 for the period. The journal entry to record the pension benefit would include a O a. debit to Postretirement Benefit Expense for $63,316. b. debit to Cash for $63,316 O c. credit to Salary Expense for $63,316. d. credit to Cash for $63,316 If a product is repaired under warranty, the seller would record a journal entry that includes a O a. debit to Supplies. b. credit to Product Warranty Payable. O c. debit to Product Warranty Payable. O d. debit to Cash
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