Sheridan co pays its employees twice a month, on the 7th and the 21st. On June 21,  sheridan co paid employee salaries of $4,840. This transaction would be recorded by a $4,000 debit to Salaries Payable and a $4,000 credit to Salaries Expense.
a). Increase owner's equity by $4,000.
b). Decrease the balance in Salaries Expense by $4,000.
c). Decrease net income for the month by $4,000

Answer rating: 100% (QA)

ANSWER c Decrease net income for the month by 4000 A person with a wage of more than one thousand sh... View the full answer