Not syncing Calculator Print Item Bloom's Company pays biweekly salaries of $40,000 every other Friday for a ten-day period ending on that day. The last payday of December is Friday, December 27. Assuming the next pay period begins on Monday, December 30. Journalize the adjusting entry necessary at the end of the fiscal period (December 31). If an amount box does not require an entry, leave it blank. Dec. 31

Cornerstones of Financial Accounting
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ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
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Bloom's Company pays biweekly salaries of $40,000 every other Friday for a ten-day period ending on that day. The last payday of December is Friday,
December 27. Assuming the next pay period begins on Monday, December 30.
Journalize the adjusting entry necessary at the end of the fiscal period (December 31). If an amount box does not require an entry, leave it blank.
Dec. 31
Transcribed Image Text:Not syncing Calculator Print Item Bloom's Company pays biweekly salaries of $40,000 every other Friday for a ten-day period ending on that day. The last payday of December is Friday, December 27. Assuming the next pay period begins on Monday, December 30. Journalize the adjusting entry necessary at the end of the fiscal period (December 31). If an amount box does not require an entry, leave it blank. Dec. 31
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