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Florrick Inc's Trial balance for 12/31/2014 states that Salaries and Wages Expense is $51,800
At December 31st, 2014, Salaries and Wages were expensed for $5,600 for 5 days in December and 5 days in January 2015. Assume the original entry was accrued into Accounts Payable.
What's the correct adjusting entry?
The company pays 50 percent of accountings payable in the month of purchase and the remaining 50 percent in the month subsequent purchase.
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What are the steps in the decision making process? Share experiences you may have in the decision-making process at your work.
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