Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Salaries are $4,500 per week for five working days and are paid weekly at the end of the day Fridays. The end of the month
Salaries are $4,500 per week for five working days and are paid weekly at the end of the day Fridays. The end of the month falls on a Thursday. The accountant for Dayton Company made the appropriate accrual adjustment and posted it to the ledger. The balance of Salaries Payable, as shown on the adjusted trial balance, will be a ________. (Assume that there was no beginning balance in the Salaries Payable account.)
a.credit balance of $3,600 b.debit balance of $900 c.debit balance of $3,600 d.credit balance of $900
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started