Provide the journal entry for the vacation pay

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Reference no: EM132806665

Vacation Pay and Pension Benefits

Manfield Company provides its employees with vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $45,900 for the period. The pension formula indicated a pension cost of $341,420. Only $295,400 was contributed to the pension plan administrator.

Required:

Problem a. Provide the journal entry for the vacation pay.

Reference no: EM132806665

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