Assume that the weekly payroll of In the Woods Camping Supplies is $300. December 31, end of

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Assume that the weekly payroll of In the Woods Camping Supplies is $300.

December 31, end of the year, falls on Tuesday, and In the Woods will pay its employee on Friday for the full week. What adjusting entry will In the Woods make on Tuesday, December 31? (Use five days as a full workweek.)

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Financial And Managerial Accounting

ISBN: 9780135080191

2nd Edition

Authors: Charles T Horngren, Jr Walter T Harrison

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Question Posted: Feb 02, 2024 05:00 AM

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Assume that the weekly payroll of In the Woods Camping Supplies is $300. December 31, end of

Question:

Date a. b. C. d. Salaries Expense Salaries Payable Salaries Payable Salaries Expense Accounts and Explanation Salaries Expense Cash No adjustment is needed because the company will pay the payroll on Friday. Debit Credit 120 300 120 120 300 120

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Financial And Managerial Accounting

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