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Paradise Realty Co. pays weekly salaries of $25,500 on Friday for a five-day workweek ending on that day. a. Journalize the necessary adjusting entry
Paradise Realty Co. pays weekly salaries of $25,500 on Friday for a five-day workweek ending on that day. a. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Monday. If an amount box does not require an entry, leave it blank. Salaries Expense 25,500 X Salaries Payable x 25,500 X Feedback Check My Work Determine the salaries per day based on a five-day work week. Then, multiply that amount by the number of day you need to accrue the wages for. b. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Thursday. If an amount box does not require an entry, leave it blank. Salaries Payable Cash X x 88
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