Chavez estimated and must expense $8,000 of accrued vacation benefits for the year.(a) Prepare the December 31 year-end adjusting entry for accrued vacation benefits.(b) Prepare the entry on April 1 of the next year when an employee takes a one-week vacation and is paid $500 cash for that week.

You estimate that your cattle farm will generate $0.15 million of profits on sales of $3 million under normal economic conditions and that the degree of operating leverage is 2. (leave no cells blank - be certain to enter "0" wherever required. do not round intermediate calculations. enter your answers in millions.) a. what will profits be if sales turn out to be $1.5 million?