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Vander Company provides medical care and insurance benefits to its retirees. In the current year, Vander agrees to pay $ 9 , 9 0 0

Vander Company provides medical care and insurance benefits to its retirees. In the current year, Vander agrees to pay $9,900 for medical insurance and contribute an additional 5% of the employees $204,000 gross salaries to a retirement program.
(1) Record the entry for these accrued (but unpaid) benefits on December 31.
(2) Assuming $5,400 of the retirement benefits are not to be paid for five years, how should this amount be reported on the current balance sheet?
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