Osterman Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned...
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Accounting
Osterman Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $ for the period. The pension formula calculated a pension cost of $ Only $ was contributed to the pension plan administrator.
a Provide the journal entry for the vacation pay. If an amount box does not require an entry, leave it blank.
b Provide the journal entry for the pension benefit. If an amount box does not require an entry, leave it blank.
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