Assume December 31 is a Tuesday. Ringwood Company's wages are paid every Friday, and the weekly payroll (for five days) amounts to $12,000. To record the correct amount of expense for December, Ringwood makes the following entry on December 31: Wages Expense 6,720 Wages Payable 6,720 Wages Payable 7,200 Wages Expense 7,200 Wages Payable 12,000 Wages Expense 12,000 Wages Expense 4,800 Wages Payable 4,800