Employees of Potteryworld Co.have earned but have not been paid $3,500 in salaries for the last week of the current calendar year.
(a)Prepare the necessary adjusting journal entry for Potteryworld at December 31 of the current year.
(b)Assuming that Potteryworld makes reversing entries,prepare the necessary reversing entry,including the appropriate date.

Question

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The Answer of Employees of Potteryworld Co.have earned but have not been paid $3,500 in salaries for the last week of the current calendar year.
(a)Prepare the necessary adjusting journal entry for Potteryworld at December 31 of the current year.
(b)Assuming that Potteryworld makes reversing entries,prepare the necessary reversing entry,including the appropriate date.