9:41 TB MC Qu. 03-316 (Algo) Flagg records adjusting entries at its December... Flagg records adjusting.entries at its December 31 year-end. At December 31, employees had earned $9,600 of unpaid and unrecorded salaries. The next payday is January 3, at which time $24,000 will be paid. Prepare the January 1 journal entry to reverse the effect of the December 31 salary expense accrual. Multiple Choice O Debit Salaries Expense $14,400; credit Salaries Payable $14,400. Debit Salaries Payable $9,600, credit Salaries Expense $9,600. Debit Salaries Expense $9,600; credit Salaries Payable $9,600. Debit Salaries Expense $14,400; debit Salaries Payable $9,600; credit Cash $24,000.

TB MC Qu. 03-316 (Algo) Flagg records adjusting entries at its December... Flagg records adjusting entries at its December 31 year-end. Ar December 31 , employees had eamed 59.600 of unpaid and invecorded salaries. The nert pryday is January 3, at which sime $24,000 will be paid. Prepare the January 1 journal entry to teverse the eflect of the December 31 salary expense aconal. Muliple Cloice