Question
Assume the weekly payroll of the Abbott Company is $5,000 . December 31 , the end of the year, falls on a Wednesday and Abbott
Assume the weekly payroll of the Abbott Company is
$5,000
. December 31 , the end of the year, falls on a Wednesday and Abbott will pay its employees on Friday for the full week.\ What adjusting entry will Abbott make on Wednesday, December 31? (Use five days as a full work week)\ \\\\table[[Date,Accounts,Debit,Credit],[Dec. 31,\\\\table[[Salaries Expense],[Cash]],5,000,]]\ \\\\table[[Date,Accounts,Debit,Cre],[Dec. 31,\\\\table[[Salaries Expense],[Salaries Payable]],5,000,],[,,5,0,]]\ \\\\table[[Date,Accounts,Debit,Credit],[Dec. 31,Salaries Expense,3,000,],[,Cash,,3,000]]\ \\\\table[[Date,Accounts,Debit,Cre],[Dec. 31,Salaries Expense,3,000,],[,Salaries Payable,,3,0]]\ IDON'T KNOWYET
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