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Beanie works for the bean counter and gers paid $500 every friday for work done from onday to friday. Assume that the company's financial year end (12/31) falls on a thursday. Whats the adjusting entry
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Beanie works for the bean counter and gers paid $500 every friday for work done from onday to friday. Assume that the company's financial year end (12/31) falls on a thursday. Whats the adjusting entry on 12/31?

User Dave Rottino
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1 Answer

1 vote

Answer:

Dr salaries and wages $23500

Cr Bank $23500

Step-by-step explanation:

500×4=$2000 a month

$2000×11=$22000

500×3 =$1500(for 3weeks)

22000+1500=$23500

The adjusting entry on 12/31 is :

Dr salaries and wages $23500

Cr Bank $23500

User Jadli
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4.8k points
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