Martin Services Company provides their employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $39,500 for the period. The pension plan requires a contribution to the plan administrator equal to 9% of employee salaries. Salaries were $750,000 during the period.

 

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Hide a. Provide the journal entry for the vacation pay. Hide b. Provide the journal entry for the pension benefit. Hide a. Provide the journal entry for the vacation pay. Hide b. Provide the journal entry for the pension benefit.