On the basis of the following data, (a) Journalize the adjusting entries at December 31, the end
Question:
On the basis of the following data,
(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 $11,750 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, $51,300.
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a 1 Sales Salaries Expense 7050 Salaries Payable 7050 Accrue...View the full answer
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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