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During the last week of August 2020, Clanton Company's employees earned $8,000 but the payroll will not cut until September 2020. Which of the
During the last week of August 2020, Clanton Company's employees earned $8,000 but the payroll will not cut until September 2020. Which of the following correctly portrays the adjusting entry, if any, which is needed when the books are closed on August 31, 20207 Balance sheet Income statement Cash flow statement Assets Liabilities SE Revenue Expenses NI Revenue Expenses NI -8000 -8000 +8000 -8000 B. Balance sheet Income statement Cash flow statement Assets Liabilities SE Revenue Expenses NI Revenue Expenses NI -8000 -8000 +8000 -8000 +8000 -8000 C. D. No entry is necessary. The salaries will be recorded when paid in September 2020. E. Balance sheet Income statement Cash flow statement Assets Liabilities SE Revenue Expenses NI Revenue Expenses NI -8000 -8000 +8000 +8000 -8000 +8000 Balance sheet Income statement Cash flow statement Assets Liabilities SE Revenue Expenses NI Revenue Expenses NI +8000 -80001 +8000 -8000
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