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28 June, 22:27

An adjusting entry was made on year-end December 31 to accrue salary expense of $2,200. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $5,000 payment of salaries in January of the following year?

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  1. 28 June, 22:30
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    Salary expense A/c Dr $2,800

    Salary payable A/c Dr $2,200

    To Cash A/c $5,000

    (Being the payment of salaries is recorded)

    Explanation:

    The adjusting entries for recording the accrued salary expense would be

    Salary Expense $2,200

    To Salary Payable $2,200

    (Being accrued salaries are adjusted)

    When the payment of salaries is made for $5,000, so the journal entry would be

    Salary expense A/c Dr $2,800

    Salary payable A/c Dr $2,200

    To Cash A/c $5,000

    (Being the payment of salaries is recorded)
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