Wildhorse Company began operations on January 2,2025. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 13 paid vacation days and 8 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Wildhorse Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without discounting The company used the following projected rates to accrue vacation time. (To accrue the expense and liability for vacations) (To record sick leave paid) (To record vacation time paid) Prepare journal entries to record transactions related to compensated absences during 2025 and 2026. (If no entry is required, select "No Entry" for the account tittes and enter 0 for the amounts. Credit account tittes are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31 . 2025 and 2026