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Cormac Co. pays salaries of $3,000 every Friday for a five day work week. December 31 is a Thursday this year. Therefore, Cormac must make
Cormac Co. pays salaries of $3,000 every Friday for a five day work week. December 31 is a Thursday this year. Therefore, Cormac must make the following adjustment on December 31 to prepare its financial statements for the month ended December 31.
a. Increase Wages Payable by $600; Increase Wages Expense by $2,400
b. Increase Wages Payable by $2,400; Increase Wages Expense by $600
c. Increase Wages Payable by $600; Increase Wages Expense by $600
d. Increase Wages Payable by $2,400; Increase Wages Expense by $2,400
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