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Adjusting entry for salary payable
jenyzel
Aug 13, 2012, 08:16 AM
Payroll for the five-day workweek, to be aid on Friday, is P140,000. The last day of the period is a Wednesday.
pready
Aug 13, 2012, 11:18 AM
First you need to figure out how much for salaries for 3 days. So take your amount given times 3/5.
Your accounts for the adjusting entry will be Salaries Expense and Salaries Payable.