Solution-Make the journal entry for vacation pay and

Make the journal entry for 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. Make the journal entry for the vacation pay and pension benefit.

Reference no: EM132693181

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Make the journal entry for vacation pay and pension benefit

Reference no: EM132693181

Reference no: EM132693181

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