Please provide correct answer this financial accounting question Clark Enterprises Inc. pays its employees every Fridayfor a five-day work week. The amount of weeklypayroll is $120,000.December 31 of the current year falls on a Thursday.Prepare the appropriate adjusting journal entry onDecember 31.

Step 1: Define Adjusting Journal Entry for Accrued SalariesAn adjusting journal entry for accrued…

Answered: Clark Enterprises Inc. pays its…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 4RE

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Clark Enterprises Inc. pays its employees every Friday for a five-day work week. The amount of weekly payroll is $120,000. December 31 of the current year falls on a Thursday. Prepare the appropriate adjusting journal entry on December 31.