On the basis of the following data, (a) Journalize the adjusting entries at December 31, the end
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(a) Journalize the adjusting entries at December 31, the end of the current fiscal year, and
(b) Journalize the reversing entries on January 1, the first day of the following year.
1. Sales salaries are uniformly $14,000 for a five-day workweek, ending on Friday. The last payday of the year was Friday, December 26.
2. Accrued fees earned but not recorded at December 31, $7,975.
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a 1 Sales Salaries Expense 8400 Salaries Payable 8400 Accrued ...View the full answer
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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