Question
A company pays each of its two office employees each Friday at the rate of $300 per day for a five-day week that begins on
A company pays each of its two office employees each Friday at the rate of $300 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:
Multiple Choice
Debit Unpaid Salaries $1,800 and credit Salaries Payable $1,800.
Debit Salaries Payable $1,200 and credit Salaries Expense $1,200.
Debit Salaries Expense $1,200 and credit Salaries Payable $1,200.
Debit Salaries Expense $1,800 and credit Salaries Payable $1,800.
Debit Salaries Expense $1,200 and credit Cash $1,200.
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