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OD 2. The workweek for Victoria's Venture is Monday through Friday, and payroll is paid on the Monday following the end of the one week
OD 2. The workweek for Victoria's Venture is Monday through Friday, and payroll is paid on the Monday following the end of the one week pay period. For example, the payroll for the week ended Friday, October 6th, would be paid on Monday, October 9th. Assume there are 10 employees that each make $100 per day. Assuming November 30" is a Thursday, prepare both the journal entry to record the payroll liability in November, and the payment of the payroll on the first Monday in December. Date S Account P R Debit Credit Ben bimbo OD 2. The workweek for Victoria's Venture is Monday through Friday, and payroll is paid on the Monday following the end of the one week pay period. For example, the payroll for the week ended Friday, October 6th, would be paid on Monday, October 9th. Assume there are 10 employees that each make $100 per day. Assuming November 30" is a Thursday, prepare both the journal entry to record the payroll liability in November, and the payment of the payroll on the first Monday in December. Date S Account P R Debit Credit Ben bimbo
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