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Accrued vacation pay A business provides its employees with varying amounts of vacation per...

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Accounting

Accrued vacation pay
A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year's vacation pay is $99,600.
a. Journalize the adjusting entry required on January 31, the end of the first month of the current year, to record the accrued vacation pay. If an amount box does not require an entry, leave it blank.
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