Assume that the weekly payroll of IDT, Inc., is $3,500. December 31, the end of the year,

Question:

Assume that the weekly payroll of IDT, Inc., is $3,500. December 31, the end of the year, falls on Tuesday, but the company won’t pay employees for the full week until its usual payday, Friday. What adjusting entry will IDT, Inc., make on Tuesday, December 31? image text in transcribed