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UkoKoshka [18]
3 years ago
6

Assume that the weekly payroll of in the woods is . December​ 31, end of the​ year, falls on​ Tuesday, and will pay its employee

on Friday for the full week. What adjusting entry will make on​ Tuesday, December​ 31?​ (Use five days as a full​ workweek.)
Business
1 answer:
shusha [124]3 years ago
6 0

Answer and Explanation:

The adjusting entry made on Tuesday is as follows

Salaries expense Dr $120  ($300 × 2 days ÷ 5  days)

         To Salaries payable $120

(Being the salaries expense is recorded)

here the salaries expense is debited as it increased the expenses and salaries payable is credited as it also increased the liabilities.

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