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Buster Industries pays weekly salaries of $43,500 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of
Buster Industries pays weekly salaries of $43,500 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is
a.debit Salaries Payable, $17,400; credit Cash, $17,400
b.debit Salary Expense, $17,400; credit Salaries Payable, $17,400
c.debit Salary Expense, $17,400; credit Dividends, $17,400
d.debit Dividends, $17,400; credit Cash, $17,400
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