Pablo Management has five employees, each of whom earns $250 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday, Thursday, and Friday, January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday. Prepare the December 31 year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4. View transaction list Journal entry worksheet
Pablo Management has five employees, each of whom earns $250 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday, Thursday, and Friday, January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday. Prepare the December 31 year-end adjusting entry for wages expense and record payment of the employees' wages on Friday, January 4. View transaction list Journal entry worksheet
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Pablo Management has five employees, each of whom earns $250 per day. They are paid on Fridays for work completed Monday
through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday, Thursday, and
Friday, January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday.
Prepare the December 31 year-end adjusting entry for wages expense and record payment of the employees' wages on Friday,
January 4.
View transaction list
Journal entry worksheet
< 1
2
Record the December 31 year-end adjusting entry for wages expense.
Note: Enter debits before credits.
Date
December 31
General Journal
Debit
Credit
>

Transcribed Image Text:Pablo Management has five employees, each of whom earns $250 per day. They are paid on Fridays for work completed Monday
through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday, Thursday, and
Friday, January 2, 3, and 4. New Year's Day (January 1) was an unpaid holiday.
Prepare the December 31 year-end adjusting entry for wages expense and record payment of the employees' wages on Friday,
January 4.
View transaction list
Journal entry worksheet
<
1
2
Record payment of the employees' wages on Friday, January 4.
Note: Enter debits before credits.
Date
January 04
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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