At December 31, 2021, Giselle Company made an accrued expense adjusting entry of $1,700 for salaries. On

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At December 31, 2021, Giselle Company made an accrued expense adjusting entry of $1,700 for salaries. On January 4, 2022, it paid salaries of $3,000: $1,700 for December salaries and $1,300 for January salaries.

(a) Prepare the December 31 adjusting entry.

(b) Prepare the December 31 closing entry for salaries.

(d) Indicate the balances in Salaries Payable and Salaries Expense after posting these entries.

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Accounting Principles Volume 1

ISBN: 978-1119502425

8th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: Feb 21, 2020 11:02 AM

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At December 31, 2021, Giselle Company made an accrued expense adjusting entry of $1,700 for salaries. On

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a Dec 31 Salaries Expense 1700 Salaries Payable 1700 To accrue salaries at yearen...View the full answer

Accounting Principles Volume 1

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