Author Question: Salary expense is $2,600 per day, Monday through Friday, and the business pays employees each ... (Read 93 times)

kshipps · **on:** Feb 18, 2020

Salary expense is $2,600 per day, Monday through Friday, and the business pays employees each Friday. If December 31 falls on a Tuesday, the adjusting entry to record accrued salaries would be to:
◦ debit Salaries Expense, $2,600; credit Salaries Payable, $2,600.
◦ debit Salaries Payable, $2,600; credit Salaries Expense, $2,600.
◦ debit Salaries Payable, $5,200; credit Salaries Expense, $5,200.
◦ debit Salaries Expense, $5,200; credit Salaries Payable, $5,200.

lorealeza · **Reply #1 on:** Feb 18, 2020

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