Employees at a certain company are paid on Friday, December 28 for the five days ending on December 28. The next payday is Friday, January 4. Employees work 5 days a week. The weekly payroll amounts to $3,150. The appropriate adjusting journal entry on December 31 would be to credit Salaries and Wages Payable for $2,520. $2,160 $1,260. $3,150. $630.
Employees at a certain company are paid on Friday, December 28 for the five days ending on December 28. The next payday is Friday, January 4. Employees work 5 days a week. The weekly payroll amounts to $3,150. The appropriate adjusting journal entry on December 31 would be to credit Salaries and Wages Payable for $2,520. $2,160 $1,260. $3,150. $630.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Employees at a certain company are paid on Friday, December 28 for the five days ending
on December 28. The next payday is Friday, January 4. Employees work 5 days a week.
The weekly payroll amounts to $3,150. The appropriate adjusting journal entry on
December 31 would be to credit Salaries and Wages Payable for
$2,520.
$2,160
$1,260.
$3,150.
$630.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F04bdff60-33d3-4378-b6e9-779f2e3749f6%2F47833bc2-c090-4bfe-b19c-589d1dc55ded%2Fwbxyxzc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Employees at a certain company are paid on Friday, December 28 for the five days ending
on December 28. The next payday is Friday, January 4. Employees work 5 days a week.
The weekly payroll amounts to $3,150. The appropriate adjusting journal entry on
December 31 would be to credit Salaries and Wages Payable for
$2,520.
$2,160
$1,260.
$3,150.
$630.
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