Prepare the adjusting entry

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Questions -

a. The trial balance of Santos Corporation shows a balance in inventory supplies of $1,950. A physical inventory supplies count indicated $790 of inventory supplies currently on hand. Prepare the adjusting entry.

b. The trial balance of Santos Corporation shows a balance in payroll of $624,000. The last pay was December 27, 2019 and all employees were paid up to December 20th on this date. Employees are not paid for weekends but work 5 days a week - Monday through Friday. There are 6 plant employees who work 8 hours per day and are paid $25 per hour. No journal entry has been made to accrue any wages for these employees at the December 31 reporting date. Prepare the adjusting entry.

Reference no: EM132684154

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