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In: Accounting

Sanborn Company has 10 employers, who earn a total of $2,400 in salaries each working day....

Sanborn Company has 10 employers, who earn a total of $2,400 in salaries each working day. they are paid on monday for the five day workweek ending on the previous friday

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I think below is the question since you have not pasted the completed question and I have the similar question available with me
Sanborn Company has 10 employers, who earn a total of $2,400 in salaries each working day. they are paid on monday for the five day workweek ending on the previous FridayAssume that year ended December 31, is a Wednesday and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is:
Answer is
Since the year ended on Wednesday, 3 day salaries from Monday to Wednesday need to be accrued as they are related to that year  
3 days salary would be = 2,400*3                 7,200.00
Entry would be  
Salaries expense Dr   7,200
To Salaries payable CR    7,200

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