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Waterway Clothing Co. is open for business six days a week. Weekly total salaries of $6.240 are paid every Monday morning to employees for
Waterway Clothing Co. is open for business six days a week. Weekly total salaries of $6.240 are paid every Monday morning to employees for salary earned during the previous six-day workweek (Monday through Saturday). At year end on July 31, three days remain unpaid. (a) Your answer is partially correct. Prepare the adjusting entry to accrue salaries at year end. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry) Date Account Titles and Explanation May 31 t Salaries Expeme Debit 6240 Credit 1240
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