journal Required information Liabilities for health and pension benefits, warranties, and bonuses are recorded with estimated...

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Required information Liabilities for health and pension benefits, warranties, and bonuses are recorded with estimated amounts

Knowledge Check 01 Assume that salaried employees of Mayer, Inc., earn 2 weeks of vacation per year. The salaried employees e

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Answer 1

Answer #1

Journal entry:

Date	Account Name	Debit	Credit
Jan .7	Vacation Benefits Expense	$ 160
	To Vacation Benefits Payable		$160
	( to record vacation pay expense.)

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Answer 2

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