Business
Business, 30.03.2020 18:41, jaeana

Martin Services Company provides their employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $39,500 for the period. The pension plan requires a contribution to the plan administrator equal to 9% of employee salaries. Salaries were $750,000 during the period. a. Provide the journal entry for the vacation pay. b. Provide the journal entry for the pension benefit.

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