Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ paid the employees' December salary on December 30 with 30,000 cash. What is the correct journal entry for the payment? a. Debit Salary Payable,

image text in transcribed

XYZ paid the employees' December salary on December 30 with 30,000 cash. What is the correct journal entry for the payment? a. Debit Salary Payable, Credit Cash b. Debit Salary Expense, Credit Cash O c. Debit Cash, Credit Salary Payable Od. Debit Cash, Credit Salary Expense

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions