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Please answer 8 and 9 The adjusting entry to record accrued salaries has what effect on the basic accounting equation? A) Increases liabilities, decreases stockholders'
Please answer 8 and 9
The adjusting entry to record accrued salaries has what effect on the basic accounting equation? A) Increases liabilities, decreases stockholders' equity B) Increases liabilities, increases stockholders' equity C) Decrease assets, decreases stockholders' equity D) Decrease assets, increases stockholders' equity E) Decrease Viabilities, decrease assets Derogate Corporation has a daily payroll of $1, 500, 5 days a week. The employees are paid every Friday for that week's wages. May 31 was in a Wednesday and the employees were paid $7, 500 on June 2. What is the journal entry on June 2, assuming the appropriate month ending adjusting entry was made on Mary 31 Step by Step Solution
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