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Ahmed is employed on 6 July 2020 by B&B Ltd on a one year contract on a annual salary package of $104,000. This consists of cash $93,600 and car perks of $10,400. A deduction of $700 for income tax is made on a weekly basis. B&B Ltd also deducts $128 per week for health insurance premium payable to Allianz Insurance.
TASK:
Prepare general journal entries (narations are required) to record:
a) Ahmed's weekly salary on 10 July 2020
b) the weekly remittance to third parties on 13 July 2020
c) the balance-day adjustment if on the year end reporting date four days wages were owing
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