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30 November, 03:37

Athena Company's salaried employees earn two weeks of vacation per year. It pays $858,000 in total employee salaries for 52 weeks but its employees work only 50. Record Athena Company's weekly journal entry to record the vacation expense:a. Debit Vacation Benefits Expense $16.500: credit Vacation Benefits Payable $16,500 b. Debit Vacation Benefits Expense $17,160, credit Vacation Benefits Payable $17,160c. Debit Vacation Benefits Expense $17.875: credit Vacation Benefits Payable $17,875 d. None of the above

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  1. 30 November, 03:53
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    a. Debit Vacation Benefits Expense $16.500: credit Vacation Benefits Payable $16,500

    Explanation:

    858,000 wages per year / 52 weeks per year = 16,500 per week

    The weekly wages for our employees are 16,500 dollars

    For each of the two weeks of vacations we will do an adjusting entry by this amount.
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