Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company has Salaries Expense of $2,000 per day and has five working days each week, Monday through Friday. The company pays its employees on

A company has Salaries Expense of $2,000 per day and has five working days each week, Monday through Friday. The company pays its employees on Friday for the days worked that week. June 30 falls on a Wednesday. When the company pays its employees on Friday, July 2nd, the journal entry will include which of the following?

Question 38 options:

Debit to Salaries Expense for $6,000

Debit to Cash for $10,000

Debit to Salaries Payable for $6,000

Debit to Salaries Expense for $10,000

Credit to Salaries Payable for $4,000

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

Guidelines For Auditing Process Safety Management Systems

Authors: CCPS Center For Chemical Process Safety

2nd Edition

0470282355, 978-0470282359

More Books

Students also viewed these Accounting questions