Pablo Management has seven part-time employees, each of whom earns $135 per day

Question

Pablo Management has seven part-time employees, each of whom earns $135 per day They are paid on Fridays for work completed Monday through Fridey of the same week Near year end, the five employees worked Monday, December 31, and Wednesday through Fridey, January 2.3, and 4. New Years Day Uanuary t) was an unpaid holday 31 and Wednesday through 1 Prepare the year-end adjusting entry for wages expenses s2. Prepare the journal entry to record payment of the employees wages on Friday,January 4 Journal entry worksheet ecord adjusting entry on Monday, December 31

Explanation / Answer

Transaction General Journal Debit Credit 1 Wages expense 675 =135*5 Wages payable 675 2 Wages expense 2025 =135*5*3 Wages payable 675 Cash 2700

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