| Pablo Management has three part-time employees, each of whom earns $130 per day. They are normally paid on Fridays for work completed Monday through Friday of the same week. Assume that December 28, 2015, was a Friday, and that they were paid in full on that day. The next week, the three employees worked only four days because New Year’s Day was an unpaid holiday. |
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| Prepare the adjusting entry that would be recorded on Monday, December 31, 2015 and Friday, January 4, 2016. |
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Journal Entry Worksheet
Record adjusting entry on Monday, December 31, 2015.
Record payment of the employees' wages on Friday, January 4, 2016.
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Transaction
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General Journal
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Debit
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Credit
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2
Record payment of the employees' wages on Friday, January 4, 2016.
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Transaction
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General Journal
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Debit
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Credit
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