Of a Company's Employees,50 Percent Typically Qualify to Receive Two

Multiple Choice

Of a company's employees,50 percent typically qualify to receive two weeks' paid vacation a year in 50 working weeks.The entry to record the amount of estimated liability for vacation pay for a week in which the total payroll is $2,900

A) Estimated Liability for Vacation Pay 116
Cash 116
B) Vacation Pay Expense 232
Cash 232
C) Vacation Pay Expense 58
Estimated Liability for Vacation Pay 58
D) Cash 29
Estimated Liability for Vacation Pay 29