Question: On December 31 2012 290 of salaries has been accrued

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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  • CreatedApril 24, 2014
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