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Prepare the adjusting entry on april

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Question - Cage Company has 10 employees, who earn a total of $2,900 in salaries each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that fiscal year ended April 30, is a Thursday and all employees will be paid salaries for five full days on the following Monday. All employees worked each day.

Required -

a) Prepare the adjusting entry on April 30.

b) Prepare the payment of salaries on May 4.

Reference no: EM132527594

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