FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Employees at a certain company are paid on Friday, December 28 for the five days ending
on December 28. The next payday is Friday, January 4. Employees work 5 days a week.
The weekly payroll amounts to $3,150. The appropriate adjusting journal entry on
December 31 would be to credit Salaries and Wages Payable for
$2,520.
$2,160
$1,260.
$3,150.
$630.
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