Journalize the adjusting entries on Aug31 for 3-month period June1-August 31.Salaries of $600 were unpaid at August 31. How do I adjust this entry if the Salary expense $53,000
|
Journalize the adjusting entries on Aug31 for 3-month period June1-August 31.Salaries of $600 were unpaid at August 31. How do I adjust this entry if the Salary expense $53,000
I assume that salaries were earned but not yet paid in the period.
The entry is Debit Salaries Expense for the amount, Credit Salaries Payable for the amount.
| All times are GMT -7. The time now is 05:32 PM. |