Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned...
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Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $40,000 for the period. The pension formula calculated a pen- sion cost of $222,750. Only $185,000 was contributed to the pension plan administrator. Journalize the entry to record the (a) vacation pay and (b) pension benefit.
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