Practice Set #$2$

Having recorded, posted $($to the General Ledger$)$ and began the $\text{'}12-31-22$ Trial Balance' worksheet with the unadjusted balances, we are now going to prepare the Adjusting Journal Entries so that we can prepare the four fundamental financial statements.

a$.$ The payroll summary for the week ended Friday, December $31$ contained the following information $($for simplification purposes, payroll tax expenses have been included in the amounts$)$:

Office and Administrative Salaries $-$ $$17,613$

Sales Salaries and Commissions $-,3,666$

Delivery and Warehouse Wages $-,\frac{2,119}{\text{\$}23,398}$

Total Wages Paid

$$23,398$

The bi$-$weekly pay period will end on January $72023.$

b$.$

Interest accrued aspecember $31,2022$ is composed of the following... Use a $360$ day year when calculating interest.

$\backslash$table$[[\backslash$table$[[$Note Receivable$],[$From:$]],\backslash$table$[[$Date of$],[$Note$],[$Receivable$]],\backslash$table$[[$Face$],[$Value$]],\backslash$table$[[$Interest$],[$Rate$],[($Annual$)]],\backslash$table$[[$Term of$],[$note$]],\backslash$table$[[$Dof$],[$Days$],[$Interest$],[$to be$],[$Acerued$]],\backslash$table$[[$Interest to be$],[$acerued @$],[\frac{12}{31}\frac{?}{22}$