Consider the following situations:

View the situations.

Assume the company records adjusting entries monthly. Journalize the adjusting entries needed as of January $31.($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

a$.$ Total salaries for all employees is $$4,200$ per month. Employees are paid on the $1$ st and $15$ th of the month.

Situations

a$.$ Total salaries for all employees is $$4,200$ per month. Employees are paid on the $1$ st and $15$th of the month.

b$.$ Work performed but not yet billed to customers for the month is $$950$

c$.$ The company pays interest on its $$16,000,7\%$ one$-$year notes payable on the first day of each month.

Calculator

Ask my instructor