Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 points A business pays weekly salaries of 200,000 on Friday for a five-day week ending on that day. If the period ends on Wednesday,

image text in transcribed

2 points A business pays weekly salaries of 200,000 on Friday for a five-day week ending on that day. If the period ends on Wednesday, the adjusting entry is * O a. debit Salaries Expense, 120,000; credit Withdrawals, 120,000 b. debit Salaries Expense, 120,000; credit Salaries Payable, 120,000 O c. debit Withdrawals, 120,000; credit Salaries Payable, 120,000 O d. debit Salaries Payable, 120,000; credit Salaries Expense, 120,000 O e. none of these

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Charles E. Davis, Elizabeth Davis

2nd edition

1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445

More Books

Students also viewed these Accounting questions

Question

What will 21st-century corporations look like?

Answered: 1 week ago