Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. Salaries are $2,600 per day for five working days and are paid weekly at the end of the day Fridays. The end of the
4. Salaries are $2,600 per day for five working days and are paid weekly at | |||||||
the end of the day Fridays. The end of the month falls on a Thursday. The | |||||||
accountant for Dayton, Inc. made the appropriate accrual adjustment and | |||||||
posted it to the ledger. The balance of Salaries Payable, as shown on the | |||||||
adjusted trial balance, will be a _______. (Assume that there was no | |||||||
beginning balance in the Salaries Payable account.) | |||||||
A. | credit balance of $10,400 | ||||||
B. | debit balance of $2,600 | ||||||
C. | debit balance of $10,400 | ||||||
D. | credit balance of $2,600 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started