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Adjustment for Accrued Expense Barans Realty Co. pays weekly salaries of $8,125 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry assuming that the accounting period ends on Tuesday. If an amount box does not require an entry, leave it blank. Salaries Expense v Salaries Payable Feedback ' Check My Work Some types of services used in earning revenues are paid for after the service has been performed. In such cases, the expense is increased. When does the accounting period end? Multiply the daily amount by the number of days to obtain the accrual amount.

Adjustment for Accrued Expense Barans Realty Co. pays weekly salaries of $8,125 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry assuming that the accounting period ends on Tuesday. If an amount box does not require an entry, leave it blank. Salaries Expense v Salaries Payable Feedback ' Check My Work Some types of services used in earning revenues are paid for after the service has been performed. In such cases, the expense is increased. When does the accounting period end? Multiply the daily amount by the number of days to obtain the accrual amount.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 6EA: On July 1, a client paid an advance payment (retainer) of $5,000 to cover future legal services....
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Adjustment for Accrued Expense Barans Realty Co. pays weekly salaries of $8,125 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry assuming that the accounting period ends on Tuesday. If an amount box does not require an entry, leave it blank. Salaries Expense v Salaries Payable Feedback ' Check My Work Some types of services used in earning revenues are paid for after the service has been performed. In such cases, the expense is increased. When does the accounting period end? Multiply the daily amount by the number of days to obtain the accrual amount.
Transcribed Image Text:Adjustment for Accrued Expense Barans Realty Co. pays weekly salaries of $8,125 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry assuming that the accounting period ends on Tuesday. If an amount box does not require an entry, leave it blank. Salaries Expense v Salaries Payable Feedback ' Check My Work Some types of services used in earning revenues are paid for after the service has been performed. In such cases, the expense is increased. When does the accounting period end? Multiply the daily amount by the number of days to obtain the accrual amount.
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