A company pays an employee $3,000 for a five-day work week, monday-friday. the adjusting entry on december 31, which is a wednesday, is a debit to wages expense, $1,800, and a credit to wages payable, $1,800. true

Question

Business

Ana Dillon

17 March, 17:17

A company pays an employee $3,000 for a five-day work week, monday-friday. the adjusting entry on december 31, which is a wednesday, is a debit to wages expense, $1,800, and a credit to wages payable, $1,800. true

+2

Answers (1)

Know the Answer?

Triston Monroe · Answer 1

Answer: True

Explanation:

From the question, we are told that a company pays an employee $3,000 for a five-day work week from Monday to Friday. This means that the employee receives a daily payment of ($3,000/5) = $600.

On Wednesday which is the third day, he will be paid ($600 * 3) = $1800. Therefore, the adjusting entry on December 31, which falls on a Wednesday will be to debit the wages expense, $1,800, and then credit to wages payable of $1,800.