The first salary payment this month was for $1,900, which included $700 of salaries payable on March 31. The payment was recorded as a debit to Salaries Expense $1,900 and a credit to Cash $1,900. (No reversing entries were made on April 1.)
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The first salary payment this month was for $1,900, which included $700 of salaries payable on March 31. The payment was recorded as a debit to Salaries Expense $1,900 and a credit to Cash $1,900. (No reversing entries were made on April 1.)
You can correct this with a debit to Salaries Payable of $700 and a credit to Salaries Expense of $700.
Thank you very much. I was not sure but now I know that I was right. Thanks again:)
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