On July 16, Year 1, Southeastern University hired an associate professor for its Math Department at an
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On July 16, Year 1, Southeastern University hired an associate professor for its Math Department at an annual (12- month) salary of $105,000. The salary is effective for its new school year, which commences August 16, and is payable in four quarterly calendar installments. Assuming that the university records journal entries on a monthly basis, what is the adjusting journal entry (if any) for August 31, Year 1?
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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