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At December 31, 2016, accrued expenses primarily included $60.8 million and $24.7 million of accrued compensation and benefits and marketing expenses, respectively. At December 31,

At December 31, 2016, accrued expenses primarily included $60.8 million and $24.7 million of accrued compensation and benefits and marketing expenses, respectively. At December 31, 2015, accrued expenses primarily included $63.8 million and $17.8 million of accrued compensation and benefits and marketing expenses, respectively.

Prepare journal entries representative of the two adjusting entries recorded by Under Armour, Inc. for compensation and marketing expenses at December 31, 2016. Indicate the impact ( = increase, or = decrease) of the entries on the balance sheet and income statement categories.

Assume that in 2016 Under Armour, Inc. paid the compensation and marketing expenses accrued at the end of 2015. Prepare summary journal entries representing payment of the accrued expenses. Indicate the impact ( = increase, or = decrease) of the entries on the balance sheet and income statement categories.

DATE ACCOUNT NAME DEBIT CREDIT

BALANCE SHEET

A = L + Eq

INCOME STATEMENT

R - Ex

12/16
12/16

2017

2017

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