Brief Exercise 13-7 Buffalo Inc. provides paid vacations to its employees. At De

Question

Brief Exercise 13-7 Buffalo Inc. provides paid vacations to its employees. At December 31, 2017, 44 employees have each earned 2 weeks of vacation time. The employees average salary is $680 per week. Prepare Buffalo's December 31, 2017, adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

Account titles and explanation Debit Credit Salaries & Wages Expense(44 employees x 2 weeks x $680) $59,840 Salaries & Wages Payable $59,840

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