Business, 12.03.2021 15:30 chilanka

Preparing Adjusting and Closing Entries Across Two Periods Norton Company closes its accounts on December 31 each year. The company works a five-day work week and pays its employees every two weeks. On December 31, 2015, Norton accrued $3,760 of salaries payable. On January 7, 2016, the company paid salaries of $9,600 cash to employees. Prepare journal entries to: (a) Accrue the salaries payable on December 31:

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Preparing Adjusting and Closing Entries Across Two Periods Norton Company closes its accounts on Dec...

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