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E3-15 Accounting for holiday and vacation pay
Jason Wood earns $800 per week for a five-day week, and he is entitled to 12 paid holidays and four weeks of paid vacatoin.
a. Over how many weeks should the holiday pay and vacation pay be expensed?
b. What is the amount of the total holiday pay and how much of it should be expensed per week?
c. How much is the total vacation pay and how much of it should be expensed per week?
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