Business, 02.03.2020 21:53 DD8156

Employees earn vacation pay at a rate of one day per month. The company estimated and must expense $1,500 of accrued vacation benefits for the year. Which of the following is the necessary year-end adjusting entry to record accrued vacation benefits?a. Debit Vacation Benefits Expense $1,500; credit Prepaid Vacation $1,500. b. Debit Vacation Benefits Expense $1,500; credit Vacation Benefits Payable $1,500. c. Debit Payroll Tax Expense $1,500: credit Payroll Taxes Payable $1.500. d. Debit Prepaid Vacation Benefits $1,500; credit Vacation Benefits Payable $1,500

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