Homework Answers
Answer : Option E, $1,520
Explanation :
Generally employees work for 5 days in a week for $3,800 and wages paid on the end of 5th day of working i.e., January 3rd
Therefore,
Number working days untill dec 31 is 2 days ( 30 December & 31 December)
That implies,
($3,800 ÷ 5 days ) × 2 days = $1,520
Adjusting Journal entry on December 31 is :
| Date | Account | Debit | Credit |
| 31 Dec | Salaries | $1,520 | |
| Wages payable | $1,520 |
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