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In each case, on your own solution sheets make the appropriate journal entry in proper journal-entry form. Form counts. End-of-period adjusting entries for May. Record
In each case, on your own solution sheets make the appropriate
journal entry in proper journal-entry form. Form counts.
End-of-period adjusting entries for May.
- Record all the appropriate adjusting entries that would result from the transactions in events 1 5 above.Thats FIVE adjusting entries 3 points each, right? Label them 6A, 6B, 6C,6D, and 6E.
- May 31 (end of month) is a Wednesday, but the firm doesnt pay its weekly (5-day) payroll until Friday. The daily payroll is $2,000. Make the adjusting entry.
- During the last 3 nights of May, your firm plays at the Village Vanguard (a NYC jazz club), which will actually pay you when your shows end, in mid-june. The Village Vanguard is paying you at the rate of $4,000 per night.
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