Colossal Realty Co. pays weekly salaries of $29,100 on Monday for a six-day workweek ending the preceding

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Colossal Realty Co. pays weekly salaries of $29,100 on Monday for a six-day workweek ending the preceding Saturday. Colossal used the option of recording reversing entries at the beginning of the year.
a. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Thursday.
b. Journalize the reversing entry.
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Accounting

ISBN: 978-0176509743

Volume 1, 2nd canadian Edition

Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,

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