Exercise 13-03 Stellar Company began operations on January 2, 2019. It employs 11 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 2019 2020 $7 $8 Vacation Days Used by Each Employee 2019 2020 Sick Days Used by Each Employee 2019 2020 Stellar Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned. Your answer is partially correct. Try again. 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 Expen 6160 6160 Salaries and Wages Pay (To accrue the expense and liability for vacations) 2 Salaries and Wages Expen 3696 3696 Salaries and Wages Pay (To accrue the expense and liability for sick pay) Salaries and Wages Payabi 2464 | Cash (To record payment for compensated time when used by employees) 2020 Salaries and Wages Expen 7040 | Salaries and Wages Pay (To accrue the expense and liability for vacations) Salaries and Wages Expen 4224 Salaries and Wages Pay (To accrue the expense and liability for sick pay) Salaries and Wages Expen Salaries and Wages Payabl Cash 6336 (To record vacation time paid) Salaries and Wages Expen 264 Salaries and Wages Payabl 3256 7 3520 Cash (To record sick leave paid) SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is partially correct. Try again. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020. 2019 2020 Vacation Wages Payable 6160 7656 Sick Pay Wages Payable 1232 3608 Click if you would like to Show Work for this question: Open Show Work