John Torre is the only employee of Bambert Company. His pay rate is $19.70 per hour with an over time rate of 1½ time for hours over 40 in a workweek. For the week ending March 31, 20, he worked 44 hours. Calculate his gross pay for the week using the over time premium approach to calculate the overtime pay. Since the company holds back one week of pay, Torre will not be paid until April 7, 20. What adjusting entry would the company make in order to record Torre's salary in the first quarter of this year?
a. Regular pays. . . . . . . . . . . . . . . $_________
b. Overtime premium pay . . . . . $_________
c. Gross pay . . . . . . . . . . . . . . . .. $_________
d. Adjustingentry
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