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What the adjusting entry necessary at end of fiscal period

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Problem 1: Buster Industries pays weekly salaries of $40,750 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is

a. debit Salary Expense, $16,300; credit Salaries Payable, $16,300
b. debit Salaries Payable, $16,300; credit Cash, $16,300
c. debit Dividends, $16,300; credit Cash, $16,300
d. debit Salary Expense, $16,300; credit Dividends, $16,300

Reference no: EM132920905

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