Wilson Company has a weekly payroll of $100,000. The year ends on a Thursday, December 31, but Wilson Company does not pay their employees until Friday, January 1. The adjusting entry for Wilson Company on December 31 is: 

(a) No entry is required. 

(b) DR. Salaries and Wages Expense 80,000 CR. Salaries and Wages Payable 80,000 

(c) DR. Salaries and Wages Expense 80,000 CR. Cash 80,000 

(d) DR. Salaries and Wages Expense 100,000 CR. Salaries and Wages Payable 100,000

Answer rating: 100% (QA)

Option B Dr Salaries and wages expense 80000 Cr Salaries and wages payable 80000 Explanation As t... View the full answer