Multiple Choice
Buster Industries 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 Tuesday is
A) debit Salaries Payable, $12,000; credit Cash, $12,000
B) debit Salary Expense, $12,000; credit Dividends, $12,000
C) debit Salary Expense, $12,000; credit Salaries Payable, $12,000
D) debit Dividends, $12,000; credit Cash, $12,000
Correct Answer:
Verified
Correct Answer:
Verified
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