Reviewing payroll records indicates that employee salaries that are due to be paid on January 3 include $5,000 in wages for the last week of December. There was no previous balance in the Salaries Payable account at that time. Based on the information provided, make the December 31 adjusting journal entry to bring the balances to correct. If an amount box does not require an entry, leave it blank. Dec. 31 Cash Common Stock Notes Payable Salaries Expense Salaries Payable
Reviewing payroll records indicates that employee salaries that are due to be paid on January 3 include $5,000 in wages for the last week of December. There was no previous balance in the Salaries Payable account at that time. Based on the information provided, make the December 31 adjusting journal entry to bring the balances to correct. If an amount box does not require an entry, leave it blank. Dec. 31 Cash Common Stock Notes Payable Salaries Expense Salaries Payable
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 7EA: Reviewing payroll records indicates that employee salaries that are due to be paid on January 3...
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Question
![Reviewing payroll records indicates that employee salaries
that are due to be paid on January 3 include $5,000 in
wages for the last week of December. There was no
previous balance in the Salaries Payable account at that
time.
Based on the information provided, make the December 31
adjusting journal entry to bring the balances to correct. If
an amount box does not require an entry, leave it blank.
Dec. 31
Cash
Common Stock
Notes Payable
Salaries Expense
Salaries Payable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11de2924-4cc1-4750-958e-08c098876e74%2F6eb16b36-3ee2-4143-88c1-d08a0723e007%2Fd58zlaw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Reviewing payroll records indicates that employee salaries
that are due to be paid on January 3 include $5,000 in
wages for the last week of December. There was no
previous balance in the Salaries Payable account at that
time.
Based on the information provided, make the December 31
adjusting journal entry to bring the balances to correct. If
an amount box does not require an entry, leave it blank.
Dec. 31
Cash
Common Stock
Notes Payable
Salaries Expense
Salaries Payable
![Reviewing payroll records indicates that employee salaries
that are due to be paid on January 3 include $5,000 in
wages for the last week of December. There was no
previous balance in the Salaries Payable account at that
time.
Based on the information provided, make the December 31
adjusting journal entry to bring the balances to correct. If
an amount box does not require an entry, leave it blank.
Dec. 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11de2924-4cc1-4750-958e-08c098876e74%2F6eb16b36-3ee2-4143-88c1-d08a0723e007%2F6au44io_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Reviewing payroll records indicates that employee salaries
that are due to be paid on January 3 include $5,000 in
wages for the last week of December. There was no
previous balance in the Salaries Payable account at that
time.
Based on the information provided, make the December 31
adjusting journal entry to bring the balances to correct. If
an amount box does not require an entry, leave it blank.
Dec. 31
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