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A firm has a December 3 1 fiscal year end. Provide the required journal entry for each of the following situations. ( Omit explanations and
A firm has a December fiscal year end. Provide the required journal entry for each of the following situations. Omit explanations and dates.
The company pays its one employee $ wages for a day work week every Friday. December fell on a Wednesday. What is the journal entry when the employee is next paid?
At the end of its first year in business, the firm estimates that merchandise sold for $cost$ will be returned next year, All sales were in cash.
Total inventory at cost is $ market is $ Writedowns are commonplace. What is the adjusting entry on Dec
The firm has a purchase commitment to buy inventory for $ By the end of the year, market value of this inventory was $ and at the purchase date, it was worth $ What is the journal entry on the date of purchase?
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