Vacation Pay and Pension Benefits Harvey Company provides its employees with vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $15,700 for the period. The pension plan requires a contribution to the plan administrator equal to 8% of employee salaries. Salaries were $168,000 during the period, and the full amount due was contributed to the pension plan administrator. On December 31, provide the journal entry for the: a. vacation pay on page 11 of the journal
b. pension benefit on page 12 of the journal.