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22 June, 05:03

The following is a partial unadjusted Trial Balance. Cash $25,000, Wages Expense 60,000, Wages Payable $0.

Bravo pays its employee weekly ($2,500 for a five day work week) on Fridays for work completed during that week. May 31 is a Tuesday. Use this information to prepare the compound General Journal entry (without explanation) for the required payroll payment on June 3, 2016. If no entry is required then write "No Entry Required."

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  1. 22 June, 05:27
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    wages expense 7,500

    wages payable 5,000

    cash 12,500

    to record payment of wages on june 3rd

    Explanation:

    Week: May 30th - June 3rd

    Monday 2,500

    Tuesday 2,500

    Total wages expense for May 31th 5,000

    Wendesday 2,500

    Thursday 2,500

    Friday 2,500

    Wages expense attributable to June 7,500

    the journal entry for june 3rd will:

    write-off the payable amount for May wages

    declare the June wages expense

    credit cash for the whole amount of wages paid.
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