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gnment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionlocator assignment-take&inprogress-faise eBook Show Me How Calculator Print Item Adiusting entries for accrued salaries Chart of Accounts Journal Garcia Reality Co, pays weekly salaries of $19,250 on Friday for a tive-day workweek ending on that day Journalize the necessary adjusting entry at the end of the accounding penod, assuming that the period ends (a) on Wednesday and (D) an Thursday Refer to the Chart of Accounts for exact wording of account Deds Previous heck My Work ore Check My Work uses remaning

Explanation / Answer

(a). Adjusting entry at the end of accounting period, assuming that the period ends on Wednesday;

Salaries Expense ($19250 * 3 / 5)

$11550

      Salaries Payable

$11550

(Adjusting entry at the end of accounting period)

(b). Adjusting entry at the end of accounting period, assuming that the period ends on Thursday;

Salaries Expense ($19250 * 4 / 5)

$15400

      Salaries Payable

$15400

(Adjusting entry at the end of accounting period)

Salaries Expense ($19250 * 3 / 5)

$11550

      Salaries Payable

$11550

(Adjusting entry at the end of accounting period)

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