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Adjusting Entries for Accrued Salaries Paradise Realty Co. pays weekly salaries of $21,500 on Friday for a five-day workweek ending on that day. a. Joumalize

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Adjusting Entries for Accrued Salaries Paradise Realty Co. pays weekly salaries of $21,500 on Friday for a five-day workweek ending on that day. a. Joumalize the necessary adjusting entry at the end of the accounting period assuming that the period ends on Wednesday. Feedback Check My Work Determine the salaries per day based on a five-day work week. Then, multiply that amount by the number of day you need to accrue the wages for. b. Journalize the necessary adjusting entry at the end of the accounting period assuming that the period ends on Thursday. Feedback T Check My Work Some types of services used in earning revenues are paid for after the service has been performed. In such cases, the expense is increased. When does the accounting period end? Multiply the daily amount times this number of days to obtain the accrual amount in each situation

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