HIJ Company provided employees with entitlement to two weeks of paid vacation leave. During the current year, all employees earned 1,500 weeks of vacation leave and used 1,000 weeks. Current salary of employees is P3,000 per week and this is expected to increase by P300 per week or a future weekly salary of P3,300 by next year. Vacation leaves used are charged to expense using the current salary while vacation leaves unused are accrued at year-end using the future salary. How much is the vacation pay expense if the benefit is accumulating and vesting?   a. 4,650,000 b. 4,500,000 c. 4,950,000 d. 3,000,000

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