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 $2,350 per day 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, $51,300.

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Accounting

ISBN: 978-1337899451

27th edition

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

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Question Posted: May 08, 2017 11:28 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 Jan 31 Sales Salaries Payable 7050 Salaries Payable 7050 Accrued salaries 2350 ...View the full answer

Accounting

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