At December 31, accrued salaries payable totaled $3,500. On January 10, total salaries of $9,200 are paid.
Question:
(a) Assume that reversing entries are made at January 1. Give the January 10 entry, and indicate the Salaries and Wages Expense account balance after the entry is posted.
(b) Repeat part (a) assuming reversing entries are not made.
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a Jan 10 Salaries and Wages Expense 9200 Cash 9200 Because of the January 1 reversing ...View the full answer
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Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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