Yara Clothing (Yara), a retail store at the mall, hires a number of employees to work 7 days a week. Yara€™s owes its employee wages for the period of December 31, 2017 to January 13, 2018 (14 days) for $5,600. The wages owed are equal each day and the employees will be paid on January 15, 2018. Yara prepares annual financial statements and has a December 31 year-end.
a. How much does Yara owe its employees per day?
b. How many days are between December 31, 2017 and December 31, 2017?
c. In order to prepare the annual financial statements ,record the adjusting journal entry on December 31, 2017.
d. Record the payment of wages on January 15, 2018.

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December 2017 January 2018 December January Sun Mon Tue Wed Thu Sun Mon Tue Wed Thu Fri Fri Sat Sat 2 4 5 8 4 11 6 7 10 12 13 10 14 15 16 18 12 13 16 19 20 11 14 15 17 20 17 23 22 23 25 18 19 21 22 24 26 24 25 28 28 29 27 26 29 30 31 31 Payday Salary expense incurred 2. 7. 3.