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  3. n 2012 city employees earned $3.6 million in vacat

n 2012 city employees earned $3.6 million in vacation pay that they did not use...

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Accounting

n 2012 city employees earned $3.6 million in vacation pay that they did not use during the year. The city estimates that of this amount, $2.8 will be paid in 2013 (out of amounts budgeted for that year), $0.6 will be paid in subsequent years, and the balance of $0.2 will not have to be paid. What is the amount that the city should add to a fund-statement liability account for 2013? Why?

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