Record adjusting journal entries for each separate case below for year ended December 31. Assume no other adjusting entries are made during the уear. a. Salaries Payable. At year-end, salaries expense of $16,000 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $275 of interest on a loan. That interest will not be paid until sometime in January of the next year. c. Interest Payable. At its December 31 year-end, the company holds a mortgage payable that has incurred $900 in annual interest that is neither recorded nor paid. The company intends to pay the interest on
Record adjusting journal entries for each separate case below for year ended December 31. Assume no other adjusting entries are made during the уear. a. Salaries Payable. At year-end, salaries expense of $16,000 has been incurred by the company, but is not yet paid to employees. b. Interest Payable. At its December 31 year-end, the company owes $275 of interest on a loan. That interest will not be paid until sometime in January of the next year. c. Interest Payable. At its December 31 year-end, the company holds a mortgage payable that has incurred $900 in annual interest that is neither recorded nor paid. The company intends to pay the interest on
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Do a b and c
Transcribed Image Text:Record adjusting journal entries for each separate case
below for year ended December 31.
Assume no other adjusting entries are made during the
year.
a. Salaries Payable. At year-end, salaries expense of
$16,000 has been incurred by the company, but is not
yet paid to employees.
b. Interest Payable. At its December 31 year-end, the
company owes $275 of interest on a loan. That interest
will not be paid until sometime in January of the next
year.
c. Interest Payable. At its December 31 year-end, the
company holds a mortgage payable that has incurred
$900 in annual interest that is neither recorded nor
paid. The company intends to pay the interest on
January 7 of the next year.
View transaction list
Journal entry worksheet
1
2
At year-end, salaries expense of $16,000 has been incurred by the company,
but is not yet paid to employees.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
а.
Record entry
Clear entry
View genera
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