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Vander Company provides medical care and insurance benefits to its retirees. In the current year, Vander agrees to pay $11,100 for medical insurance and contribute
Vander Company provides medical care and insurance benefits to its retirees. In the current year, Vander agrees to pay $11,100 for medical insurance and contribute an additional 5% of the employees $216,000 gross salaries to a retirement program. (1) Record the entry for these accrued (but unpald) benefits on December 31 (2) Assuming $6,600 of the retirement benefits are not to be paid for five years, how should this amount be reported on the current balance sheet? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the entry for these accrued (but unpaid) benefits on December 31. Debit Credit ces View transaction lit View Journal entry worksheet No Date General Journal 1 December 31 Employee benefits expense Employee medical insurance payable Employee retirement program payable Roured Required 2 >
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