Marine Company has an accounting fiscal year which ends on September 30. The company also has a policy of paying the weekly payroll on Friday. Payroll records indicate the following salary costs were incurred: Monday Tuesday Wednesday Thursday Friday Date September 28 September 29 September 30 October 1 October 2 Amount $2000 $2400 $3800 $2700 $3100
Marine Company has an accounting fiscal year which ends on September 30. The company also has a policy of paying the weekly payroll on Friday. Payroll records indicate the following salary costs were incurred: Monday Tuesday Wednesday Thursday Friday Date September 28 September 29 September 30 October 1 October 2 Amount $2000 $2400 $3800 $2700 $3100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Marine Company has an accounting fiscal year which ends on September 30. The company
also has a policy of paying the weekly payroll on Friday. Payroll records indicate the
following salary costs were incurred:
Monday
Tuesday
Wednesday
Thursday
Friday
Date
September 28
September 29
September 30
October 1
October 2
Amount
$2000
$2400
$3800
$2700
$3100

Transcribed Image Text:Prepare the necessary journal entry that should be made on September 30.
Account
Debit
Credit
1
I
Prepare the journal entry to record the payment of the weekly payroll on October 2.
Account
Debit
Credit
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