Multiple Choice
The Star Mobile Phone company estimates that the amount of monthly salaries on which four weeks annual leave is payable is $208 000. What is the correct accounting entry to accrue annual leave at the end of the month?
A) Debit annual leave payable $16 000; credit bank $16 000
B) Debit annual leave payable $16 000; credit annual leave expense $16 000
C) Debit annual leave expense $16 000; credit annual leave payable $16 000
D) No accounting entry is required
Correct Answer:
Verified
Correct Answer:
Verified
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