ABC Contracting Services prepares their vacation and sick pay accrual entries on a quarterly basis. Below is their employee listing and information needed to prepare the 1st and 2nd quarter entries. As a note, employees must be with the company for six months to be vested in both vacation and sick pay. At the end of the sixth month, employees start to earn 1 day of vacation pay and a 0.5 days of sick pay for each month worked. Cooley Sam hire date 11/30/23 daily rate 120.0.

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To prepare the vacation and sick pay accrual entries for the 1st and 2nd quarters for ABC Contracting Services we need to calculate the vacation pay a... View the full answer