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Exercise 28 incomplete payroll period. On the first payday in October, salaries of 18.600 are paid. On September 30, the end of its fiscal year,
Exercise 28 incomplete payroll period. On the first payday in October, salaries of 18.600 are paid. On September 30, the end of its fiscal year, an enterprise owed salaries of 11.200 for an (a) Is the 11.200 a deferral or an accrual as of September 30? (b) Which of the following types of accounts will be affected by the related adjusting entry: (1) assets, (2) liability, (3) revenue, (4) expense? (c) How much of the 18.600 salary payment should be allocated to October
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