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Provide the journal entry for the vacation pay

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Problem - Vacation pay and pension benefits - Wang Equipment Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $42,000 for the period. The pension formula calculated a pension cost of $273,000. Only $210,000 was contributed to the pension plan administrator. Provide the journal entry for the (a) vacation pay and (b) pension benefit.

Reference no: EM132628702

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