Paradise Realty Co. pays weekly salaries of $16,350 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday. Refer to the Chart of Accounts for exact wording of account titles.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Paradise Realty Co. pays weekly salaries of $16,350 on Friday for a five-day workweek ending on that day.
Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday. Refer to
the Chart of Accounts for exact wording of account titles.
Transcribed Image Text:Paradise Realty Co. pays weekly salaries of $16,350 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (a) on Monday and (b) on Thursday. Refer to the Chart of Accounts for exact wording of account titles.
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