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4. Assume Piedmont Pharmacy's fiscal year ends on December 31. Which of the following would require adjusting entries? Explain your answers. a. Rent for November
4. Assume Piedmont Pharmacy's fiscal year ends on December 31. Which of the following would require adjusting entries? Explain your answers. a. Rent for November was paid the following December. b. Rent for December was paid the following January. c. Salary expense of $5,000 was incurred and paid in December. d. Salary expense of $2,500 was incurred, but not paid, during the last 2 weeks of December. Salaries will be paid on January 14. e. Credit sales of $1,000 are made during the last week of December. Payment for these sales will be made during the following January. f. A car is purchased and paid for, in cash, on March 31. g. A computer with an estimated life of 5 years is purchased on April 30. The money used to buy the computer was borrowed from a bank on a 5-year loan. Both principal and interest are due in 5 years
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