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Unformatted text preview: due as due of December 31, 20X4, and additional amounts relating to the first half of January, 20X5. (a) Prepare the necessary year-end adjusting entries for salaries and rent. (b) Determine the total salaries expense and total rent revenue for 20X4. (c) Assuming the company uses reversing entries, prepare necessary reversals for early 20X5. (d) Assuming the company used reversing entries, prepare entries for January 10 and 15, 20X5. (e) Assuming the company does not use reversing entries, prepare entries for January 10 and 15, 20X5. (f) Show how 20X5 salaries expense and rent revenue will be the same, whether reversing entries are used or not....
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- Spring '11