Multiple Choice
A business pays weekly salaries of $35000 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 Wednesday is
A) debit Salaries and Wages Payable $21000; credit Cash $21000.
B) debit Salaries and Wages Expense $21000; credit Cash $21000.
C) debit Salaries and Wages Expense $21000; credit Salaries and Wages Payable $21000.
D) debit Salaries and Wages Expense $14000; credit Salaries and Wages Payable $14000.
Correct Answer:
Verified
Correct Answer:
Verified
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