Assume that an adjusting entry was made on November 30, 2018 for earned, but unpaid employee...
Assume that an adjusting entry was made on November 30, 2018 for earned, but unpaid employee salaries of $260 which represented 2 days of salaries earned for November 29-30. On December 5, the employees are paid for five days. Record the journal entry on December 5 assuming that reversing entries ARE used by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Homework Answers
Salary expense per day = $260 / 2
= $130
Salaries expense = $260 + ($130 X 5)
= $910
| Date | General Journal | Debit | Credit |
| 12/05 | Salaries expense | $910 | - |
| Cash | - | $910 |
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