Vacation pay Instructions Chart of Accounts Journal Final question structions A business provides ils employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year's vacation pay is $43 200 Required: A Joumalize the adjusting entry required on January 31, the end of the first month of the current year, to record the accrued vacation pay Refer to the Chart of Accounts for exact wording of account bitles B. How is the vacation pay reported on the company's balance sheet? When is this amount removed from the company's balance sheer? Check My Work 1 more Check My Work uses remaining Previous Email restructor Submit Test for All work saved