Adjusting and reversing entries On the basis of the following data, (a) journalize the adjusting entries at
Question:
Adjusting and reversing entries 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 $11,750 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.
AppendixLO1
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones
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