Answer:
Explanation:
The adjusting entry is shown below:
Salary expense A/c Dr $56,000
To Salary payable A/c $33,600
To Deductions payable A/c $22,400
(Being the accrued wages are recorded and the remaining balance is credited to deductions payable account)
The computations are shown below:
For salary expense, it would be
= $70,000 × 4 days ÷ 5 days
= $56,000
For salary payable, it would be
= $42,000 × 4 days ÷ 5 days
= $33,600
