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Laguna Realty Co. pays weekly salaries of $10,100 on Friday for a five-day week ending on that day. What is the adjustment at the
Laguna Realty Co. pays weekly salaries of $10,100 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends (a) on Monday or (b) on Wednesday? Indicate whether each account is increased or decreased, and the amount of the increase or decrease. a. Salary expense Salary payable b. Salary expense Salary payable 0000
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