Vacation Pay and Pension Benefits Putnam Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $24,000 for the period. The pension formula calculated a pension cost of $258,000. Only $15,480 was contributed to the pension plan administrator. (a) Provide the journal entry for the vacation pay. If an amount box does not require an entry, leave it blank. (b) Provide the journal entry for the pension benefit. If an amount box does not require an entry, leave it blank.