(To accrue the expense and liability for vacations)(To accrue the expense and liability for sick pay)(To record payment for compensated time when used byemployees)2020(To accrue the expense and liability for vacations)(To accrue the expense and liability for sick pay) Marin Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid hourly. Eachemployee earns 11 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year followingthe year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additionalinformation is as follows.Actual HourlyWage RateVacation Days Usedby Each EmployeeSick Days Usedby Each Employee201920202019202020192020$8$910Marin Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and toaccrue sick pay when earned.(a)Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required,select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount isentered. Do not indent manually.)Date Account Titles and ExplanationDebitCredit2019(To accrue the expense and liability for vacations)

Journal Entry - It is a record of every business transaction in day-to-day life whether it is…

Marin Company began operations on January 2, 2019. It employs 11 individuals who work 8-hour days and are paid hourly. Each employee earns 11 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Vacation Days Used by Each Employee Sick Days Used by Each Employee Wage Rate 2019 2020 2019 2020 2019 2020 $8 $9 10 Marin Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned. (a) Prepare journal entries to record transactions related to compensated absences during 2019 and 2020. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2019 (To accrue the expense and liability for vacations)