On January 1, 2024, Poplar Fabricators Corporation agreed to grant its employees two weeks of vacation each year, with the stipulation that vacations earned each year can be taken the following year. For the year ended December 31, 2024, Poplar Fabricators' employees each earned an average of $850 per week. Nine hundred vacation weeks earned in 2024 were not taken during 2024. Required: 1. Prepare the appropriate adjusting entry for vacations earned but not taken in 2024. 2. Suppose that, by the time vacations actually are taken in 2025, salary rates for employees have risen by an average of 4 perce from their 2024 level. Also, assume salaries earned in 2025 (including vacations earned and taken in 2025) were $39 million. Prepare a journal entry that summarizes 2025 salaries and the payment for 2024 vacations taken in 2025. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate adjusting entry for vacations earned but not taken in 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. General Journal Credit No 1 Answer is complete but not entirely correct. Event 1 No 1 Event 1 Salaries expense Liability compensated future absences < Required 1 Required 2 > Required 1 Required 2 Suppose that, by the time vacations actually are taken in 2025, salary rates for employees have risen by an average of 4 percent from their 2024 level. Also, assume salaries earned in 2025 (including vacations earned and taken in 2025) were $39 million. Prepare a journal entry that summarizes 2025 salaries and the payment for 2024 vacations taken in 2025. Note: Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. C General Journal Liability-compensated future absences Salaries expense Cash Debit 540,000 540,000 Debit 540,000 31,032,400 Credit 31,572,400 Show less A