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Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned...

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Accounting

Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $35,000 for the period. The pension formula calculated a pension cost of $201,250. Only $175,000 was contributed to the pension plan administrator. Provide the journal entry for the (a) vacation pay and (b) pension benefit.

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