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(10 points) A business pays weekly wages of $30,000 every Friday for a five-day period ending on that Friday. The last pay day of December

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(10 points) A business pays weekly wages of $30,000 every Friday for a five-day period ending on that Friday. The last pay day of December is Friday, December 26. Assuming the next pay period begins on Monday, December 29, journalize (a) the adjusting entry necessary at the end of the fiscal period (Wednesday, December 31), (b) the entry for the payment of the payroll on Friday, January 2 Entry Account Name Debit Credit (a) (b)

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