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Prepare a journal entry to record the estimated vacation pay

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Question - ABC Technologies has a weekly payroll of $25,375 and grants two weeks' vacation after one year's employment, which amounts to 4% of annual pay. Based on past turnover rates, the employer estimates that 70 percent of employees will be granted vacation time. Prepare a journal entry to record the estimated vacation pay resulting from the weekly payroll.

Reference no: EM133025235

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