On December 31, 2012, $300 of salaries has been accrued. (Salaries before the accrued amount totaled $24,000.)

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On December 31, 2012, $300 of salaries has been accrued. (Salaries before the accrued amount totaled $24,000.) The next payroll to be paid will be on February 3, 2013, for $6,300. Please do the following:

a. Journalize and post the adjusting entry (use T accounts).

b. Journalize and post the reversing entry on January 1.

c. Journalize and post the payment of the payroll. Cash has a balance of $12,500 before the payment of payroll on February 3.

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College Accounting A Practical Approach Chapters 1-25

ISBN: 9780133791006

13th Edition

Authors: Jeffrey Slater

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Question Posted: Apr 14, 2017 12:34 PM

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On December 31, 2012, $300 of salaries has been accrued. (Salaries before the accrued amount totaled $24,000.)

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a Dec 31 Salaries Expense 3 0 0 00 Salaries Payable 3 0 0 00 Salaries Expense Salaries Pay...View the full answer

College Accounting A Practical Approach Chapters 1-25

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