1. Prepare the journal entry in the general fund to reflect the vacation pay earned in 20Xl.
2. Prepare the journal entry to reflect the payments for vacation days that had been earned in prior years.
3. Comment on how the schedule of long-term obligations would be affected by these transactions.
4. Comment on how the government-wide statements would be affected by these transactions. Specifically, what would be the reported vacation expenses for 20Xl, and what would be the year-end accrued liability for vacation pay assuming that the beginning of year liability was $0.7 million?