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I need help correcting the mistakes I have made on this journal and also what the other entries should be. I tried some things but
I need help correcting the mistakes I have made on this journal and also what the other entries should be. I tried some things but I am struggling to solve the rest.
present both the April 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses. Note: Do not round intermediate calculations. Exercise 3.5 (Algo) Adjusting and paying accrued expenses LO P3 a. On April, the company hired an attorney for a fiat monthly fee of \$2,000. Payment for April legal services was made by the company on Moy 12 b. As of April 30, 5900 of interest expense has accrued on a note payable. The ful interest payment of $2,700 on the note is due on May 20 . c. Total we-kly salaries expense for all employees is $12,000. This amount is paid at the end of the day on Friday of each five-day workweek. Apnil 30 falls on a Tuesday, which means that the employees had worked two days since the last payday. The next payday is May 3. The above three separate situations require adjusting Journal entries to prepare finaneial statements as of April 30 . For each situation, present both the Aptil 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses. Note: Do not round intermediate calculationsStep by Step Solution
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