Question
The employees of Neat Clothes work Monday through Friday. Every other Friday the company issues payroll checks totaling $39,000. The current pay period ends on
The employees of Neat Clothes work Monday through Friday. Every other Friday the company issues payroll checks totaling $39,000. The current pay period ends on Friday, July 3. Neat Clothes is now preparing quarterly financial statements for the three months ended June 30.
What is the adjusting journal entry to record accrued salaries at the end of June?
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad
2nd Canadian edition
133375536, 9780133845396, 133845397, 978-0133375534
