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rane E Coyote Corp. has a fiscal year-end of July 31. Employees are paid bi-weekly and in the current year the bi-weekly pay eriod ends
rane E Coyote Corp. has a fiscal year-end of July 31. Employees are paid bi-weekly and in the current year the bi-weekly pay eriod ends on July 25; the next period extends from July 26 to August 8. Total bi-weekly payroll is $32,200 and is based on a even-day work week. Crane E prepares reversing entries for all its accrued expenses at year-end. Show how the entries might be different if the company did not use reversing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To record salaries and wages payable) (To record closing entry) eTextbook and Media Debit
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