Question
Natsu Company's annual accounting period ends on October 31, 2019. The following information concerns the adjusting entries that need to be recorded as of that
Natsu Company's annual accounting period ends on October 31, 2019. The following information concerns the adjusting entries that need to be recorded as of that date. Entries can draw from the following partial chart of accounts: Cash; Rent Receivable; Office Supplies; Prepaid Insurance; Building; Accumulated DepreciationBuilding; Salaries Payable; Unearned Rent; Rent Earned; Salaries Expense; Office Supplies Expense; Insurance Expense; and Depreciation ExpenseBuilding.
The company has four employees, who earn a total of $1,000 for each workday. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that October 31, 2019, is a Monday, and all four employees worked the first day of that week. They will be paid salaries for five full days on Monday, November 7, 2019.
How do I compute the answer.
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