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Assume that no reversing entries are made by the entity. How would the entity record the transaction for payment of wages if $5200 was accrued
Assume that no reversing entries are made by the entity. How would the entity record the transaction for payment of wages if $5200 was accrued for wages at the end of the year and the first payment of wages in the following year was $63 900?
A. DR Salaries expense $63 900; CR Cash $63 900
B.DR Salaries payable $5200; DR Salaries expense $58 700; CR Cash $63 900
C. DR Salaries expense $63 900; CR Salaries payable $5200; CR Cash $58 700
D. DR Salaries expense $69 100; CR Salaries payable $5200; CR Cash $63 900
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