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Blankenship Company pays its employees every Friday for work rendered that week. The payroll is typically $10,000 per week. What journal entry would be recorded (on Wednesday) if the end of the accounting period occurred on a Wednesday?oSalary Expense6,000Salary Payable6,000oSalary Expense6,000
Salary Expense6,000CORRECT5.5. QuestionBlankenship Company pays its employees every Friday for work rendered that week. The payroll is typically $10,000 per week. Blankenship’s year-end occurred on Wednesday, at which time a correct adjusting entry was recorded. On the following Friday, which of the following payroll journal entries shouldbe recorded?
CORRECT6.6. QuestionThe appropriate journal entry to record equipment depreciation expense would consist of a debit to Depreciation Expense and a credit to which of the following accounts?7.7. QuestionAt the end of the current accounting period, Johnson Company failed to record utilities consumed during the period. Johnson will be billed for the utilities during the next accounting period. As a result, current period assets, liabilities, equity, and income, respectively, are: