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E 3-3 Pablo Management has five part-time employees, each of whom earns $250 per day. They are normally paid on Fridays for work completed Monday

E 3-3 Pablo Management has five part-time employees, each of whom earns $250 per day. They are normally paid on Fridays for work completed Monday through Friday of the same week. Assume that December 28, 2015, was a Friday, and that they were paid in full on that day. The next week, the five employees worked only four days because New Years Day was an unpaid holiday. (a) Assuming that December 31, 2015, was a Monday, prepare the adjusting entry that would be recorded at the close of that day. (b) Assuming that January 4, 2016, was a Friday, prepare the journal entry that would be made to record payment of the employees wages. Highlights require your input Entry # Account Titles & explanationas Debits Credits Wages Expense $1,250 Wages Payable $1,250 Show support below to your numbers Entry # Account Titles & explanationas Debits Credits b Wa

image text in transcribedges Expense $3,750 Wages Payable $1,250 .Cash $5,000 Show support below to your numbers 2015 2016

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