(Answered) Serenity corporation has 20 employees who each earn 120 a

Accounting

Serenity Corporation has 20 employees who each earn $120 a day. The following information is available.

1. At December 31, Serenity recorded vacation benefits. Each employee earned 5 vacation days during the year.

2. At December 31, Serenity recorded pension expense of $100,000, and made a contribution of $70,000 to the pension plan.

3. In January, 18 employees used one vacation day each.

Instructions

Prepare Serenity's journal entries to record these transactions.

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Accounting Basics, Accounting

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