- Yes, the company is now obligated to pay the employee, thus that event must be recorded on March 6.
- No, hiring an employee is an important event; however, it is not an economic event that should be recorded on March
- Yes, failure to record the event on March 6 would cause the financial statements to be misleading.
- No, the journal entry should be made on March 1 which is the date of hiring.
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