Pablo Management has eight employees, each of whom earns $165 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the eight employees worked Monday. December 31, and Wednesday through Friday. January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday. Prepare the year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4.
Pablo Management has eight employees, each of whom earns $165 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the eight employees worked Monday. December 31, and Wednesday through Friday. January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday. Prepare the year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Exerclse 3-2 Adjusting and paylng accrued wages LO P3
Pablo Management has eight employees, each of whom earns $165 per day. They are paid on Fridays for work completed Monday
through Friday of the same week. Near year-end, the eight employees worked Monday, December 31, and Wednesday through Friday,
January 2, 3. and 4. New Year's Day (January 1) was an unpaid holiday.
Prepare the year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4.
X Answer is not complete.
No
Date
General Journal
Debit
Credit
December 31
Wages expense
1,320 O
1,320
January 04
Wages payable
1.320 O
Wages expense
3,960 O
Cash
5.280 V
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