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A business enterprise pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end
A business enterprise pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Wednesday is: a. Debit Drawing, $12,000; credit Cash, $12,000 Ob, Debit Salaries Expense, $20,000; credit Salaries Payable, $20,000 c. Debit Salaries Payable, $12,000, Credit Cash, $12,000 Od. Debit Salaries Expense, $12,000; Credit Salaries Payable, $12,000
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