Solved: Journalize the adjusting entry for the accrued wages, Accounting Basics

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Journalize the adjusting entry for the accrued wages

Problem:

On December 31, 2010 Karmansky Co. needed to record its accrued wages for year-end. December 31 is a Tuesday, and Karmansky Co. must account for two days of wages. The company operates on a five-day workweek, the prior week's gross pay(December 26 payday) was $32,650, and the net pay was $21,330. Journalize the adjusting entry to be made on December 31 for the the accrued wages.

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Accounting Basics: Journalize the adjusting entry for the accrued wages

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