riverrun company provides medical care and insurance benefits to its retirees. in the current year, riverrun…

riverrun company provides medical care and insurance benefits to its retirees. in the current year, riverrun agrees to pay $19,500 for medical insurance and contribute an additional $9,350 to a retirement program. record the entry for these accrued (but unpaid) benefits on december 31. view transaction list journal entry worksheet 1 record the costs of employee benefits. note: enter debits before credits. date general journal debit credit december 31 28,850 28,850

riverrun company provides medical care and insurance benefits to its retirees. in the current year, riverrun agrees to pay $19,500 for medical insurance and contribute an additional $9,350 to a retirement program. record the entry for these accrued (but unpaid) benefits on december 31. view transaction list journal entry worksheet 1 record the costs of employee benefits. note: enter debits before credits. date general journal debit credit december 31 28,850 28,850

Answer

Explanation:

Step1: Calculate total accrued benefits

Add medical insurance cost and retirement - program contribution. $19500 + 9350=28850$.

Step2: Determine debit account

Debit the Employee Benefits Expense account for the total amount of accrued benefits, which is $28850$.

Step3: Determine credit account

Credit the Accrued Employee Benefits Payable account for the total amount of accrued benefits, which is $28850$.

Answer:

Date General Journal Debit Credit
December 31 Employee Benefits Expense 28850
December 31 Accrued Employee Benefits Payable 28850