Multiple Choice
A business pays weekly salaries of $30,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on a Thursday is
A) debit Salaries and Wages Payable, $24,000; credit Cash, $24,000.
B) debit Salaries and Wages Expense, $24,000; credit Cash, $24,000.
C) debit Salaries and Wages Expense, $24,000; credit Salaries and Wages Payable, $24,000.
D) debit Salaries and Wages Expense, $6,000; credit Salaries and Wages Payable, $6,000.
Correct Answer:
Verified
Correct Answer:
Verified
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