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    nikkichan's Avatar
    nikkichan Posts: 1, Reputation: 1
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    #1

    Oct 1, 2014, 07:39 PM
    Prepare the adjusting entry required on May 31, assuming that June 1 falls on a Wedne
    Kiddle Incorporated has a five-day workweek and pays salaries of $70,000 each Friday
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 3, 2014, 09:26 AM
    First you have to figure out the amount of your adjusting entry for 2 days. Mon and Fri. So take your salaries for a five day workweek times 2 days divided by 5 days equals your adjusting entry amount.

    Your accounts will be Salaries Expense and Salaries Payable
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