kerarucker12pe384k
kerarucker12pe384k
27.07.2020 • 
Business

Osterman Company provides its employees with vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $33,100 for the period. The pension plan requires a contribution to the plan administrator equal to 6% of employee salaries. Salaries were $354,000 during the period, and the full amount due was contributed to the pension plan administrator. On December 31, provide the journal entry for the (a) vacation pay on page 11 of the journal and (b) pension benefit on page 12 of the journal.

Solved
Show answers

Ask an AI advisor a question