10 Nov Accounting for bonus and vacation payBeth Elkins,
Accounting for bonus and vacation payBeth Elkins, a factory worker, earns $1,000 each week. In addition, she will receive a $4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Elkins is the only employee.
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