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Windy Harbor Boat Company pays its employees on a weekly basis each Friday. During the week ended Friday, January 3, Year 2, the company had
Windy Harbor Boat Company pays its employees on a weekly basis each Friday. During the week ended Friday, January 3, Year 2, the company had a weekly payroll of $125,750. Assuming that the company is on a calendar basis, has a five-day workweek, and that daily wages are always the same, what adjusting journal entry (if any) would be made on December 31, Year 1? A. $125,750 Salary Expense Accrued Salaries Payable $125,750 . Salary Expense $50.300 Cash $50.300 O c. $50,300 Salary Expense Accrued Salaries Payable $50,300 OD No journal entry necessary
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