Kindle Company has a five-day workweek and pays salaries of $70,000 each Friday. 1. Prepare the adjusting
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1. Prepare the adjusting entry required on May 31, assuming that June 1 falls on a Wednesday.
2. Prepare the journal entry to pay the salaries on June 3, including the amount of salaries payable from requirement 1.
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1 May 31 Salaries Expense 28000 Salaries Payable 28000 ...View the full answer
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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