Gordy's Corp. has seven employees. Each earns $800 per week for a five day work week ending on Friday. This month, the last day of the month falls on a Thursday. The company should make the following adjusting entry: a. debiting Wage Expense for $4,480 and crediting Wages Payable for $4,480 b. debiting Wage Expense for $640 and crediting Wages Payable for $640 c. crediting Wage Expense for $4,480 and debiting Wages Payable for $4,480 d. crediting Wage Expense for $640 and debiting Wages Payable for $640

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter10: Payroll Register (pr)
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Provide answer general accounting

Gordy's Corp. has seven employees. Each earns $800 per week for a five day
work week ending on Friday. This month, the last day of the month falls on a
Thursday. The company should make the following adjusting entry:
a. debiting Wage Expense for $4,480 and crediting Wages Payable for $4,480
b. debiting Wage Expense for $640 and crediting Wages Payable for $640
c. crediting Wage Expense for $4,480 and debiting Wages Payable for $4,480
d. crediting Wage Expense for $640 and debiting Wages Payable for $640
Transcribed Image Text:Gordy's Corp. has seven employees. Each earns $800 per week for a five day work week ending on Friday. This month, the last day of the month falls on a Thursday. The company should make the following adjusting entry: a. debiting Wage Expense for $4,480 and crediting Wages Payable for $4,480 b. debiting Wage Expense for $640 and crediting Wages Payable for $640 c. crediting Wage Expense for $4,480 and debiting Wages Payable for $4,480 d. crediting Wage Expense for $640 and debiting Wages Payable for $640
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