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At the end of an accounting period wages expense of $190 000 is closed to the profit and loss summary account. The wages are made
At the end of an accounting period wages expense of $190 000 is closed to the profit and loss summary account. The wages are made up of $180 000 paid in cash and accrued wages of $10 000. A reversing entry is made for accrued wages on the first day of the next accounting period. The first payment to employees for wages in the new year is $25 000. How would this payment be recorded? Select one: O a. Debit accrued wages $10 000: credit bank S10 000 b. Debit wages expense $15 000; debit accrued wages $10 000; credit bank $25 000 c. Debit wages expense $25 000 credit bank $25 000 O d. Debit wages expense S15 000: credit bank S15 000
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