For Each of the Following Two Separate Situations,present Both the April

question 150

Essay

For each of the following two separate situations,present both the April 30 adjusting entry and the subsequent entry during May to record the payment of the accrued expenses or receipt of the accrued revenue.
a.Nicolas Company has 5 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 worked each day and will be paid salaries for five full days on the following Monday.
b.Services of $3,000 have been performed for Clevenger Company through April 30.The client will pay the entire amount of the contract when services are completed on May 23.
c.Paid the employees' salaries on May 4.
d.Received payment from Clevenger Company for services that are now completed on May 23.

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Definitions:

Temperate Deserts

Temperate deserts are arid regions with moderate temperatures compared to their more extreme hot or cold desert counterparts, characterized by sparse rainfall and unique ecosystem adaptations.

Precipitation

Precipitation is the process by which water in various forms falls from the atmosphere to the ground, including rain, snow, sleet, and hail.

Vegetation

All the plants and plant life of a particular region, habitat, or period.

Increasing Latitude

Refers to moving towards higher latitudes, either north or south, away from the equator, typically resulting in cooler climates and changes in daylight hours.