Blankenship Company pays its employees every Friday for work rendered that week. The payroll is typically $10,000 per week. What journal entry would be recorded (on Wednesday) if the end of the accounting period occurred on a Wednesday

Dr salaries expense   $6,000

Cr salaries payable                      $6,0000

Explanation:

Since the $10,000 payroll charge on Friday is for the whole week, an appropriate adjustment for month close on a Wednesday would to recognize the amount payable to employees for that week from Monday till Wednesday as follows:

Amount of salaries owed on Wednesday=$10,000*3/5=$6,000

The appropriate entries for the above would a debit to salaries expense for $6,000 while a credit goes to salaries payable

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

answer assertive;