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13 July, 08:20

Flagg records adjusting entries at its December 31 year-end. At December 31, employees had earned $13,600 of unpaid and unrecorded salaries. The next payday is January 3, at which time $34,000 will be paid. Prepare the journal entry on January 3 to record payment assuming the adjusting and reversing entries were made on December 31 and January 1. a. Debit Salaries expense $9,200; credit Salaries payable $9,200.

b. Debit Salaries expense $13,800; debit Salaries payable $9,200; credit Cash $23,000.

c. Debit Salaries payable $13,800; credit Cash $13,800.

d. Debit Salaries payable $9,200, credit Salaries expense $9,200.

e. Debit Salaries expense $13,800; credit Salaries payable $13,800.

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  1. 13 July, 08:23
    0
    Salaries expense A/c Dr $34,000

    To Cash A/c $34,000

    (Being the salary is paid for cash is recorded)

    Explanation:

    The journal entry is shown below:

    On January 3

    Salaries expense A/c Dr $34,000

    To Cash A/c $34,000

    (Being the salary is paid for cash is recorded)

    Since salary is paid so we debited the salary expense account and the cash is reduced so cash account should be credited.

    The options which are given are not correct. So, ignored it
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