Assume the company does use reversing entries. Prepare the
December 31 adjusting entry, the January 1 reversing entry, and the
entry on Monday, January 6, when Crane pays the payroll.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)
Homework Answers
| Date | Account Titles | Debit | Credit |
| Dec 31 | Salaries and Wages expense | 4252 | |
| Salaries and Wages payable | 4252 | ||
| Jan.1 | Salaries and Wages payable | 4252 | |
| Salaries and Wages expense | 4252 | ||
| Jan.6 | Salaries and Wages expense | 10630 | |
| Cash | 10630 |
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