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| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
c. The company has 15 employees, who earn a total of $2,100 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2011, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Years Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2012. ANSWER: c. Salaries Expense: Dr, 4200.00 ; Salaries Payable Cr, 4200.00 2. Prepare journal entries to record the first subsequent cash transaction in 2012 for parts c Debit Credit _________ __________ ______
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