Employees earn vacation pay at the rate of one day per month. During the month of July, 30 employees qualify for one vacation day each. Their average daily wage is $105 per day. What is the amount of vacation benefit expense to be recorded for the month of July?
A. $315.00
B. $30.00
C. $31,500.00
D. $105.00
E. $3150.00
Answer: E
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