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Vacation pay and pension benefits Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $25,000 for
Vacation pay and pension benefits Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $25,000 for the period. The pension formula determined a pension cost of $139,250. Only $105,000 was contributed to the pension plan administrator. a. Journalize the entry to record the vacation pay. If an amount box does not require an entry, leave it blank. Feedback Check My Work Vacation pay is an adjusting entry. Recall that all adjusting entries affect a balance sheet account and an income statement account
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