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The company has 15 employees, who earn a total of $1,960 in salaries each working...

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Accounting

The company has 15 employees, who earn a total of $1,960 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31,2019, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year's Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2020.

Prepare journal entries to record subsequent cash transaction in 2020.

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