Kiddle Incorporated has a five-day workweek and pays salaries of $70,000 each Friday
pready
Oct 3, 2014, 09:26 AM
First you have to figure out the amount of your adjusting entry for 2 days. Mon and Fri. So take your salaries for a five day workweek times 2 days divided by 5 days equals your adjusting entry amount.
Your accounts will be Salaries Expense and Salaries Payable