At the end of April, Hernandez Company had a balance of $35,070 in the vacation benefits payable account. During May, employees earned an additional $2,730 in vacation benefits, but some employees used vacation days that amounted to $1,920 of the vacation benefits. The $1,920 was charged to Wages Expense when it was paid in May. What adjusting entry would Hernandez Company make at the end of May to bring the vacation benefits payable account up to date? If an amount box does not require an entry, leave it blank. Account Debit Credit Vacation Benefits Expense Vacation Benefits Payable Feedback Additional Vacation benefits earned less benefits paid; balance should be debited to Vacation Benefits Expense and credited to Vacation Benefits Payable.
At the end of April, Hernandez Company had a balance of $35,070 in the vacation benefits payable account. During May, employees earned an additional $2,730 in vacation benefits, but some employees used vacation days that amounted to $1,920 of the vacation benefits. The $1,920 was charged to Wages Expense when it was paid in May. What
If an amount box does not require an entry, leave it blank.
| Account | Debit | Credit |
| Vacation Benefits Expense | ||
| Vacation Benefits Payable |
Additional Vacation benefits earned less benefits paid; balance should be debited to Vacation Benefits Expense and credited to Vacation Benefits Payable.
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Correct Answer
Vacation benefits earned - Vacation benefits used
2730 - 1920 = 810
Vacations benefits expense 810
Vacations benefits payable 810
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