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A Business Pays Its Employees' Monthly Salaries of $20,000, Half

Question 66

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A business pays its employees' monthly salaries of $20,000, half on the 15th day of each month, and half on the first day of the following month. On October 31, the business accrued salaries for the second half of October. On November 1, the business paid their employees $10,000 for the second half of October. Please provide the journal entry for the payment made on November 1.
A business pays its employees' monthly salaries of $20,000, half on the 15<sup>th</sup> day of each month, and half on the first day of the following month. On October 31, the business accrued salaries for the second half of October. On November 1, the business paid their employees $10,000 for the second half of October. Please provide the journal entry for the payment made on November 1.

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