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2otsiness pays biweekly salaries of s20,000 every other Friday for a ten-day period ending on that day. The last payday of December is Friday, December
2otsiness pays biweekly salaries of s20,000 every other Friday for a ten-day period ending on that day. The last payday of December is Friday, December 27. Assume the next pay period begins on Monday, December 30, and the proper adjusting entry is journalized at the end of the fiscal period (December 31). The entry for the payment of the payroll on Friday, January 10, includes a A. debit to Salary Expense of $4,000 B. credit to Salaries Payable of $4,000 C. credit to Salaries Payable of $16,000 D. debit to Salary Expense of $16,000 The correct answer is D. But I do not understand why. I answered A
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