If accrued salaries were recorded on December 31 with a credit to Salaries Payable, the entry to
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Question:
If accrued salaries were recorded on December 31 with a credit to Salaries Payable, the entry to record payment of these wages on the following January 5 would include:
a. a debit to Cash and a credit to Salaries Payable
b. a debit to Cash and a credit to Prepaid Salaries
c. a debit to Salaries Payable and a credit to Cash
d. a debit to Salaries Payable and a credit to Salaries Expense
e. No entry would be necessary on January 5.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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