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Does it matter how the entries are recorded? This is what I came up with but it doesn't match the options give in the specified
Does it matter how the entries are recorded? This is what I came up with but it doesn't match the options give in the specified order. I listed problem below
Title Entry | Debit | Credit |
salary expense | 2100 | |
Salary Payable | 2100 | |
Salary Expense | 6300 | |
Salary Payable | 2100 | |
Cash | 8400 |
A company recorded 2 days of accrued salaries of $2,100 for its employees on January 31. On February 9, it paid its employees $8,400 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are:
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