Salaries for each of the six employees at Live Work
Salaries for each of the six employees at Live, Work, Play and Co. are $1,600 for each two-week period and are based on a five-day workweek. The December 31 year-end falls on the fourth day of the pay period.
a. Calculate the accrued salaries and journalize the adjusting transaction.
b. Journalize the payment.
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