Reference no: EM132669327
Question - Beam Industries employs a five-day workweek and a September 30 year-end. Normal weekly wages amount to $36,000. If September 30 ends on a Wednesday, what is the appropriate journal entry at fiscal year-end?
1. Salaries and Wages Expense $21,600, Salaries and Wages Payable $21,600
2. Salaries and Wages Expense $36,000, Salaries and Wages Payable $36,000
3. Salaries and Wages Expense $7,200, Salaries and Wages Payable $7,200
4. Salaries and Wages Expense $21,600, Cash $21,600
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