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During its first year of operations, a company granted its employees vacation privileges and pension...

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Accounting

During its first year of operations, a company granted its employees vacation privileges and pension rights estimated at a cost of $23,323 and $14,046, respectively. The vacations are expected to be taken in the next year, and the pension rights are expected to be paid in the future 5-30 years. What is the total cost of vacation pay and pension rights to be recognized in the first year?

a. $23,323

b. $37,369

c. $65,461

d. $14,046

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