Neal Industries has five employees. Each employee earns one vacation day a month. Neal pays its employees

Question:

Neal Industries has five employees. Each employee earns one vacation day a month. Neal pays its employees a weekly salary of $ 1,000 for a five-day workweek.

Requirements
1. Determine the amount of vacation expense for one month.
2. Journalize the entry to accrue the vacation expense for the month.

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Related Book For  book-img-for-question

Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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