At end of annual accounting period ,salary is accrued for 3 days (Monday-Tuesday-Wednesday ).
Total salaries accrued : [5 employees*400 per day*3 days ]+[10 workers*600*3days]
= 6000+ 18000
= 24000
Adjusting entry :
Account title | Debit | credit |
Salaries and wage expense | 24000 | |
Salaries and wages payable | 24000 |
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