On December 31, 2012, $290 of salaries has been accrued. (Salaries before the accrued amount totaled $28,000.)

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On December 31, 2012, $290 of salaries has been accrued. (Salaries before the accrued amount totaled $28,000.) The next payroll to be paid will be on February 3, 2013, for $5,700. Please do the following:

a. Journalize and post the adjusting entry (use T accounts).

b. Journalize and post the reversing entry on January 1.

c. Journalize and post the payment of the payroll. Cash has a balance of $17,000 before the payment of payroll on February 3.

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College Accounting A Practical Approach

ISBN: 978-0133133233

12th edition

Authors: Jeffrey Slater

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Question Posted: Apr 24, 2014 10:11 AM

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On December 31, 2012, $290 of salaries has been accrued. (Salaries before the accrued amount totaled $28,000.)

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