Each Friday, Littleon pays for the current week's work. The amount of the weekly payroll is $5,500 for a five-day work week. This year December 31, falls on a Thursday. How would I journalize this as an adjusting entry?

On Thursday you would debit the Accrued wages account then when it is paid on Friday you would credit the accrued wages account.

I do a separate accrual. I accrue the wages to Salaries and accrued wages, than at beginning of the next month the accrual is reversed.


Shirley

First you would have to calculate the amount of wages for 4 days. Take the amount of wages times 4/5 to get your answer, then the journal entry will be:
Debit Salaries and Wages Expense for the amount calculated
Credit Salaries and Wages Payable for the same amount.

When you pay the wages your entry will be
Debit Salaries and Wages Payable for the amount calculated previously
Debit Salaries and Wages Expense for the amount of wages times 1/5 or 1 day of wages
Credit Cash for 5 days of wages paid.