Chavez estimated and must expense $8,000 of accrued vacation benefits for the year. (a) Prepare the December 31 year-end adjusting entry for accrued vacation benefits. (b) Prepare the entry on April 1 of the next year when an employee takes a one-week vacation and is paid $500 cash for that week.
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Ответ:
Journal Entry
Explanation:
a.Vacation Benefits Expense Dr, $8,000
To Vacation Benefits Payable $8,000
(Being the vacation benefit expense for the year is recorded)
b. Vacation Benefits Payable Dr, $500
To Cash $500
(Being the vacation benefits payment for one week is recorded)
Ответ:
A! Thank you so mcuh sis! You are the best!