At December 31, accrued salaries payable totaled $3,500. On January 10, total salaries of $8,000 are paid.
Question:
(a) Assume that reversing entries are made at January 1. Give the January 10 entry, and indicate the Salaries Expense account balance after the entry is posted.
(b) Repeat part (a) assuming reversing entries are not made.
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a Jan 10 Salaries Expense 8000 Cash 8000 Because of the January 1 reversi...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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