Novak Company's weekly payroll, paid on Fridays, totals $4,050. Employees work a 5-day week.

Novak Company's weekly payroll, paid on Fridays, totals $4,050. Employees work a 5-day week. Prepare Novak's adjusting entry on Wednesday, December 31, and the journal entry to record the $4,050 cash payment on Friday, January 2.