Paradise Realty Co. pays weekly salaries of $16,350 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday. Refer to the Chart of Accounts for exact wording of account titles.

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter3: The Adjusting Process
Section: Chapter Questions
Problem 6E
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Paradise Realty Co. pays weekly salaries of $16,350 on Friday for a five-day workweek ending on that day.
Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday. Refer to
the Chart of Accounts for exact wording of account titles.
Transcribed Image Text:Paradise Realty Co. pays weekly salaries of $16,350 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday. Refer to the Chart of Accounts for exact wording of account titles.
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