Kelsey Gunn is the only employee of Arsenault Company. His pay rate is $23.00 per hour with an overtime rate of 1 times for hours over 40 in a workweek.

For the week ending March 31, 20--, he worked 48 hours. Calculate his gross pay for the week using the overtime premium approach to calculate the overtime pay.

a. Regular pay

$

b. Overtime premium pay

$

c. Gross pay

$

d. Since the company holds back one week of pay, Gunn will not be paid until April 7, 20--. What adjusting entry would the company make in order to record Gunn's salary in the first quarter of this year?

Account	Debit	Credit
- Salary Expense
- Salaries Payable