Multiple Choice
State Community College, a public college, grants faculty members a one-year sabbatical leave after each seven years of service.There are no requirements for research, study, or service during the compensated sabbatical leave.A particular faculty member earns $40,000 per year.Assuming that the college maintains its books and records in a manner that facilitates the preparation of government-wide financial statements and assuming that any appropriate accruals have been made, what is the appropriate entry to record the employee's salary paid while on sabbatical?
A) Debit Expenditures $40,000; Credit Cash $40,000.
B) Debit Sabbatical leave payable $40,000; Credit Cash $40,000.
C) Debit Expenditures $40,000; Credit Cash $40,00
D) No entry required.
Correct Answer:
Verified
Correct Answer:
Verified
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