Vacation Pay and Pension Benefits Osterman Company provides its employees vacation benefits and a defined...
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Vacation Pay and Pension Benefits Osterman Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $21,000 for period. The pension formula calculated a pension cost of $269,000. Only $16,140 was contrijuted to the pension plan administrator (a) Provide the journal entry for the vacation pay. If an amount bax 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. Journalixing tostaviliment Notes On the first day of the fiscal year, a company issues $32,000, 11%, five-year installment notes that have annual payments of $8,658. The first note payment consists of $3,520 of interest and $5,138 of principal repayment. . Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave It blank. b. Journalize the first annual note payment. If an amount box does not require an entry, leave it blank ni
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