Business, 25.02.2020 01:06 kartikjain2002ozi29y

A company shows a balance in Salaries Payable of $40,000 at the end of the month. The next payroll amounting to $50,000 is to be paid in the following month. What will be the journal entry to record the payment of salaries?

Select one:

a. Debit Salaries Expense, $50,000; Credit Salaries Payable, $50,000

b. Debit Salaries Expense, $10,000; and Debit Salaries Payable $40,000; Credit Cash $50,000

c. Debit Salaries Expense, $50,000; Credit Cash $50,000

d. Debit Salaries Expense, $10,000; Credit Cash, $10,000

Answers: 1

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A company shows a balance in Salaries Payable of $40,000 at the end of the month. The next payroll a...