Question: Jen and Bennys Ice Cream offers a defined-contribution plan to its employees. Under the terms of the plan, Jen and Benny must contribute 2% of

Jen and Benny’s Ice Cream offers a defined-contribution plan to its employees. Under the terms of the plan, Jen and Benny must contribute 2% of its employees’ salaries. Prepare the journal entry required to record the cost of this plan, assuming that total salaries for the year are equal to $ 875,000 and that the sponsor corporation contributes the full amount due under the plan.

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