Washington company's employees earn $220 per day and are paid every friday for a five-day work week. this year, december 31 is a wednesday.

required: journalize the adjusting entry on december 31.

Explanation:

The adjusting entry is shown below:

Wages and salaries Expense A/c Dr $660

              To Wages and salary payable A/c $660

(Being the wages are adjusted)

The computation is shown below:

= Per day salary × number of days

= $220 per day × 3 days

= $660

So, the wages and salaries expense is debited for $660 and wages and salaries payable is credited for $660

answer; conceptual skills;

answerboth the short run phillips curve and the aggregate demand and aggregate supply model