At December 31, 2024, Oriole Company made an accrued expense adjusting entry of $1,200 for salaries. On January 4, 2025, it paid salaries of $4,700: $1,200 for December salaries and $3,500 for January salaries. (a) Prepare the December 31 adjusting entry. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. List all debit entries before credit entries.) Date Account Titles Dec 31 To accrue salaries at year end) Debit Credit

At December 31, 2024, Oriole Company made an accrued expense adjusting entry of $1,200 for salaries. On January 4, 2025, it paid salaries of $4,700: $1,200 for December salaries and $3,500 for January salaries. (a) Prepare the December 31 adjusting entry. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. List all debit entries before credit entries.) Date Account Titles Dec 31 To accrue salaries at year end) Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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