On the basis of the following data, (a) Journalize the adjusting entries at December 31, the end

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On the basis of the following data,

(a) Journalize the adjusting entries at December 31, the end of the current fiscal year, and

(b) Journalize the reversing entries on January 1, the first day of the following year.

1. Sales salaries are uniformly $17,375 for a five-day workweek, ending on Friday. The last payday of the year was Friday, December 26.

2. Accrued fees earned but not recorded at December 31, $19,850.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Dec 10, 2011 10:13 AM

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On the basis of the following data, (a) Journalize the adjusting entries at December 31, the end

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a 1 Sales Salaries Expense 10425 Salaries Payable 10425 Accru...View the full answer

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