Mason Painting Services has a weekly payroll of $24,000. December 31 falls on Wednesday and Mason will pay its employees the following Monday (January 5 ) for the previous full week
Assume that Mason has a five-day workweek and has an unadjusted balance in Salaries Expense of $770,000. What amount should be debited to Salaries Expense on December 31?
A) $770,000
B) $9,600
C) $24,000
D) $14,400
D .$24,000 / 5 = $4,800 per day x 3 days = $14,400
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