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Prospect Realty Co . pays weekly salaries of $ 1 7 , 9 2 0 on Monday for a six - day workweek ending the
Prospect Realty Co pays weekly salaries of $ on Monday for a sixday workweek ending the preceding Saturday.
Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday. Refer to the Chart of Accounts for exact wording of account titles. Round your answer to the nearest dollar.CHART OF ACCOUNTS
Prospect Realty Co
General Ledger
ASSETS
Cash
Accounts Receivable
Supplies
Prepaid Insurance
Land
Equipment
Accumulated DepreciationEquipment
LIABILITIES
Accounts Payable
Unearned Fees
Salaries Payable
Taxes Payable
EQUITY
Common Stock
Retained Earnings
Dividends
REVENUE
Fees Earned
EXPENSES
Advertising Expense
Insurance Expense
Rent Expense
Salaries Expense
Supplies Expense
Utilities Expense
Depreciation Expense
Miscellaneous ExpenseJournalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday, July Refer to the Chart of Accounts for exact wording of account titles. Round your answer to the nearest dollar.
How does grading work?
PAGE
JOURNALACCOUNTING EQUATION
Score:
DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY
Adjusting Entries
Jul.
A Salaries Expense for one day
Jul.
Salaries Payable
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