On December 31, 2019, $300 of salaries has been accrued. (Salary expense before the accrual adjustment totaled
Question:
On December 31, 2019, $300 of salaries has been accrued. (Salary expense before the accrual adjustment totaled $26,000.) The next payroll to be paid will be on February 3, 2020, for $6,000. Do the following:
1. Journalize and post the adjusting entry (use T accounts).
2. Journalize and post the reversing entry on January 1.
3. Journalize and post the payment of the payroll. Cash has a balanceof $15,000 before the payment of payroll on February 3, 2020.
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a Dec 31 Salaries Expense 3 0 0 00 Salaries Payable 3 ...View the full answer
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Related Book For 
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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