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Prepare journal entries to record related cash transaction

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Burke. Bros pays its employees a total of $7500, every second Monday for week completed the two proceeding weeks. Employees work a five five day week, Monday to Friday , and are paid for all statutory holidays. December 31, 2021, is a Friday. Employees were paid on Monday, December 20, 2021, and will be paid again on Tuesday, January 4, 2022.

Problem 1: Prepare adjusting journal entries on December 31, 2021.

Problem 2: prepare the journal entries to record the related cash transactions in 2022.

Reference no: EM132728605

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