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Journalize entry to record vacation pay and pension benefit

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Problem - Fukushima Company provides its employees with vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $19,500 for the period. The pension plan requires a contribution to the plan administrator equal to 6% of employee salaries. Salaries were $260,000 during the period, and the full amount due was contributed to the pension plan administrator. Journalize the entry to record the (a) vacation pay and (b) pension benefit.

Reference no: EM132754092

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