QUESTION 16 Before recording adjusting entries at the end of 20x1, Kalgan Company carried balances of $409,000 in wages expense and $0 in wages payable. December 31, 20x1 fell on a Thursday. The business did not pay wages on that day, but followed its normal pattern and disbursed $2,500 to the employees on the first Friday of 20x2 to compensate them for the five day workweek then ended. What is the amount of the adjusting entry that Kalgan Company must record to bring the accounts up-to-date at year-end? a $500 b. $409,000 c. $411,000 d. $2,000 e. $2,500 QUESTION 17 Before recording adjusting entries at the end of 20x1, Kalgan Company carried balances of $409,000 in wages expense and $0 in wages payable December 31, 20x1 fell on a Thursday. The business did not pay wages on that day, but followed its normal pattern and disbursed $2,500 to the employees on the first Friday of 20x2 to compensate them for the five day workweek then ended. What balance of wages expense will Kalgan Company carry in its accounting records after posting the appropriate adjusting entry at year-end? a $2,000 b. $2,500 c. $411,000 d. $409,000 e. $500