Necessary adjusting journal entry on friday
Employee salaries owed for Monday thru Thursday of a five-day workweek; weekly payroll, $10,000. Paychecks are cut Fridays. Record the accrual on Thursday and the necessary adjusting journal entry on Friday.
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Assume that real risk-free rate = 3%. Inflation rate is expected to be 8% in year 1, 5% in year 2, and 4% thereafter. Also assume that all T-bonds are highly liquid and free of default risk. If 2-year T-bond yields 13%, what is the maturity risk p
Bee-In-The-Bonnet Company purchased office supplies costing $6,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2,400 still on hand. The appropriate adjusting j
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Journalize the adjusting entry for bad debts at December 31, 2010, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $1,100 and the aging schedule indicates that total estimated bad debts will be $36,700.
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