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133. A business pays bi-weekly salaries of $20.000 every other Friday for a ten-day period ending on that day. The adjusting
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Answer #1

AS PER HOMEWORKLIB POLICY I'VE ANSWERED THE FIRST QUESTION. KINDLY POST ONE QUESTION AT A TIME.

Answer : (D)

10 days' salary =$20000

Salary per day =20000/10=$ 2000

There are 8 working days till the Wednesday of second week

Salary payable on that day = 8x2000 = 16000

Journal Entry :

Salary Dr 16000

To Salaries payable. 16000

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