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Mini's manufacturing has a weekly payroll of $180,000 for a five day work week. Mini prepares its financial statements on Wednesday of this week (December
Mini's manufacturing has a weekly payroll of $180,000 for a five day work week. Mini prepares its financial statements on Wednesday of this week (December 31, 2020) and pays the employees on Friday.
1. prepare the adjusting journal entry payroll on Wednesday, December 31
2. prepare the journal entry for the payment of the payroll on Friday, January 2.
3. prepare the journal entry for the payment of the payroll on Friday, January 9.
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