Answered: Journal entry to record salaries will…

Journal entry to record salaries will include:(a) Debit salaries Credit cash.(b) Debit capital Credit cash.(c) Debit cash Credit salary.(d) Debit salary Credit creditors.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter4: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 3QY: On the work sheet, assets are recorded in which of the following columns? a. Trial Balance, Credit...

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Question

Journal entry to record salaries will include:
(a) Debit salaries Credit cash.
(b) Debit capital Credit cash.
(c) Debit cash Credit salary.
(d) Debit salary Credit creditors.

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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