P3-33A Journalizing adjusting entries and subsequent journal entries Learning Objective 3 Laughter Landscaping has collected the following data for the December 31 adjusting entries: a. Each Friday, Laughter pays employees for the current week's work. The amount of the weekly payroll is $8,000 for a five-day workweek. This year, December 31 falls on a Tuesday. Laughter will pay its employees on January 3. On January 1 of the current year, Laughter purchases an insurance policy that covers two years, $8,000. b