Problem

A teacher working for the City of Lights earns vacation pay of $2,000 during 2013. However...

A teacher working for the City of Lights earns vacation pay of $2,000 during 2013. However, the vacation will not be taken until near the end of 2014. In the government-wide financial statements for 2013, how is this compensated absence reported? How is this compensated absence reported in the fund financial statements for 2013?

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