Athens Company's salaried employees earn two weeks of vacation per year.The company estimated and must expense $6,600 of accrued vacation benefits for the year.Which of the following is the necessary year-end adjusting entry to record accrued vacation benefits?
A) Debit Vacation Benefits Expense $16,500; credit Vacation Benefits Payable $16,500.
B) Debit Vacation Benefits Expense $6,600; credit Vacation Benefits Payable $6,600.
C) Debit Vacation Benefits Expense $17,160; credit Vacation Benefits Payable $17,160.
D) Debit Vacation Benefits Payable $6,600; credit Vacation Benefits Expense $6,600.
E) Debit Vacation Benefits Payable $16,500; credit Vacation Benefits Expense $16,500.
Correct Answer:
Verified
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