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State Community College, a public college, grants faculty members a one-year sabbatical leave after each 7 years of service. There are no requirements for research, study, or service during the compensated sabbatical leave. A particular faculty member earns $40,000 per year. Assuming that the college maintains its records in a manner that facilitates the preparation of the fund financial statements and assuming that any appropriate accruals have been made, what is the appropriate entry to record the employee's salary paid while on sabbatical?

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Accounting Basics, Accounting

Category:- Accounting Basics
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