Instructions

a) Prepare any necessary adjusting journal entries that should be made at year end on June 30.

b) Prepare the journal entry to record the payment of the weekly payroll on July 2.

Oriole Company has an accounting fiscal year which ends on June 30. The company also has a policy of paying the weekly payroll on Friday. Payroll records indicate the following salary costs were incurred. Date Amount Monday June 28 $2,640 Tuesday June 29 3,344 Wednesday June 30 2,904 Thursday July 1 3,080 Friday July 2 2,112