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Midwest Equipment, Inc., whose fiscal year ends December 31, 2020, has a weekly payroll of $100,000. Employees work 5 days per week, Monday through Friday

Midwest Equipment, Inc., whose fiscal year ends December 31, 2020, has a weekly payroll of $100,000. Employees work 5 days per week, Monday through Friday and payday is every Friday. How much wages expense will be recorded on the Friday, January 3, 2021 payday? (Hint: this pay period spans two accounting periods) A. $100,000 B. $40,000 C. $0 D. $60,000

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