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Use General Journal to record the following adjustment. Show your working in the answer if necessary. Transaction 1: Wages for APC Pty Ltd total $10,000
Use General Journal to record the following adjustment. Show your working in the answer if necessary.
Transaction 1:Wages for APC Pty Ltd total $10,000 per week, i.e. $2,000 per day for a Monday to Friday working week, and are paid each Friday. Wages this year to date are $510,000. Assume that end of the accounting period, 30 June, falls on a Wednesday. Employees have worked three days since having been paid for the previous week.
Date/Account/Debit/Credit
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