At the end of April, Hernandez company had a balance of $37,910 invacations benefits payable...
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At the end of April, Hernandez company had a balance of $37,910 invacations benefits payable account. During May, employers earned anadditional $2,790 in vacation benefits, but some employee usedvacation days amounting to $2,050 of vacation benefits.. The $2,050was charged to Wage Expense when it was paid in May. What adjustingentry would Hernandez company make at the end of May to bring thevacation benefits payable account up to date. Here is the answer I have but not sure if it is correct. Vacation Benefits Expense 38,650 Vacation Benefits Payable 38,650 Thanks in advance
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