Question: how do i record a proper journal entry for the following information? Gee Wiz Typically pays employees twice a month (on the second and fourth
how do i record a proper journal entry for the following information?
Gee Wiz Typically pays employees twice a month (on the second and fourth Thursdays off the month). The payment is for the work performed the previous two weeks (for example, in February Gee Wiz will pay salaries of $1,500 on Thursday, February 10 for work performed from Monday January 24th through Friday February 4th. Gee Wiz will pay salaries of $1,500 on Thursday, February 24 for work performed from Monday February 7th through Friday February 18th, etc...) Record the appropriate Accrual for January.
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