Pablo management has five part-time employees, each of whom earns $250 per day. they are normally paid on fridays for work completed monday through friday of the same week. assume that december 28, 2015, was a friday, and that they were paid in full on that day. the next week, the five employees worked only four days because new year's day was an unpaid holiday. prepare the adjusting entry that would be recorded on monday, december 31, 2015 and friday, january 4, 2016.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; buyer guide;

answer; situational irony;