Question: BE4.7 (LO 3) The total weekly payroll for Classic Auto Repairs Ltd. is $5,000 ($1,000 per day). The payroll is paid every Saturday for

BE4.7 (LO 3) The total weekly payroll for Classic Auto Repairs Ltd.

BE4.7 (LO 3) The total weekly payroll for Classic Auto Repairs Ltd. is $5,000 ($1,000 per day). The payroll is paid every Saturday for employee salaries earned during the same five-day workweek (Monday through Friday, inclusive). Salaries were last paid on Saturday, September 25. This year the company's year end, September 30, falls on a Thursday. Salaries will be paid next on Saturday, October 2. Prepare the journal entries to record each of the following: a. Payment of the salaries on September 25 b. The adjustment to accrue salaries at September 30 c. Payment of the salaries on October 2 Prepare adjusting and subsequent entries for accrued revenue.

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