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Charlie was paid a salary of $2,400 a month for his work as the operator of the truck. 8. Record the annual salary that the
Charlie was paid a salary of $2,400 a month for his work as the operator of the truck. 8. Record the annual salary that the company paid to its only employee - Charlie Driver. The problem says "Charlie withdrew $2,400 a month for personal expenses. Rephrase this to treat Charlie as an employee of the corporation. He can be both a shareholder (owner) and a worker (employee). Annual salary, paid in cash = 12 months x $2,400 = $28,800 Write the Journal Entry and Post to the T-account Account Debit Credit Record Charlie's annual salary (simplified, do in 1 entry rather than 12 separate journal entries
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