Assume That the City of Juneau Maintains Its Books and Records

Multiple Choice

Assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements.The City pays its employees bi-weekly on Friday.The fiscal year ended on Wednesday, June 30.Employees had been paid on Friday, June 25.The employees paid from the General Fund had earned $120,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30) .They will earn $80,000 on Thursday and Friday (July 1 and 2) .What entry, if any, should be made on June 30?

A) Debit Expenditures $120,000; Credit Wages and Salaries Payable $120,000.
B) Debit Expenditure $200,000; Credit Wages and Salaries Payable $200,000.
C) Debit Expenses $120,000; Credit Wages and Salaries Payable $120,000.
D) No entry is required.