Nathan Company: Prepare Reversing Entry
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...reversing entries.....
On Oct 31, Nathan Company made an accrued expense adjusting entry of $1,400 for salaries. Prepare the reversing entry on Nov 1, and indicate the balances in Salaries Payable and Salaries Expense after posting the reverse entry.
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Solution Summary
The solution prepares reversing entry for Nathan Company. The balances in salaries payable and salaries expense after posting the reverse entry are indicated.
Solution Preview
The original entry made in Oct 31 is:
DR: Salaries expense 1,400
CR: ...
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