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ABC Company pays weekly salaries of $15,000 on Friday for a five-day week ending on that day. Assuming that December 31 is a Tuesday, the
ABC Company pays weekly salaries of $15,000 on Friday for a five-day week ending on that day. Assuming that December 31 is a Tuesday, the necessary adjusting entry for the year ended December 31 would:
debit Salaries Expense and credit Salaries Payable for $9,000 | ||
debit Salaries Payable and credit Salaries Expense for $6,000 | ||
debit Salaries Expense and credit Salaries Payable for $6,000 | ||
debit Salaries Expense and credit Cash for $9,000 | ||
debit Salaries Payable and credit Salaries Expense for $9,000 | ||
debit Salaries Expense and credit Cash for $6,000 |
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