Solve the below problem:
Q: The company has 15 employees, who earn a total of $2,100 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday.
Assume that December 31, 2011, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Years Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2012. ANSWER:
Salaries Expense: Dr, 4200.00 ; Salaries Payable Cr, 4200.00
Prepare journal entries to record the first subsequent cash transaction in 2012 for parts Debit Credit