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The company operates on a five-day workweek the prior weeks

Problem

1. On December 31, 20--, Karmansky Company needed to record its accrued wages for year-end. If December 31 is a Wednesday, then Karmansky Company must account for three days of wages.

The company operates on a five-day workweek, the prior week's gross pay was $48,900, and the net pay was $31,790.

Journalize the adjusting entry to be made on December 31 for the accrued wages:

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Accounting Basics: The company operates on a five-day workweek the prior weeks

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