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Bad White [126]
3 years ago
13

Gordy's Corp. has seven employees. Each earns $800 per week for a five day work week ending on Friday. This month, the last day

of the month falls on a Thursday. The company should make an adjusting entry:
Business
1 answer:
GarryVolchara [31]3 years ago
5 0

Answer:

The journal entry to record the wages expense for the month is:

Thursday, end of month, wages expense:

Dr Wages expense 640

    Cr Wages payable 640

The adjusting entry made on Friday would be:

Friday, first day of the new month, wages expense:

Dr Wages expense 140

Dr Wages payable 640

    Cr Cash 800

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