Question

Provide the appropriate journal entries for the following transactions. If no journal entry is required please indicate so.

13 01/14/2019 NSC pays its employees twice a month. The pay dates are 16th and 30th of the month. For February it's the last day of the month. NSC accrues salaries and wages expense two working days prior to the payment day. Today is the day for NSC to estimate salaries and wages expenses. NSC estimated that the total salaries and wages payment for the pay date on 16th is $78,200. 01/14/2019 NSC made the payment for the raw materials received on January 8th. 01/14/2019 NSC made a payment of $134,000 to SSH for the products that they received on December 29th. 01/15/2019 NSC shipped the products for the order that Andy Sports placed with NSC on January 7th 01/15/2019 Jenny Sports in Huntington, WV has a due balance of $74,800 from their purchases in 2018 from NSC. They made the full payment of their due balance. | 15 16

Answer 1

Sl. No Date

13 1/14/2019 salaries and
Wages expense A/c 78,200
To salaries payable 78,200

14 1/14/2019 sundry creditors A/c  
To Bank A/c

15 1/14/2019 SSH A/c dr. xxx
To Bank A/c xxx
(being payment made to SSH for raw materials purchased previously)

16 1/15/2019 no entry to be passed.

17 1/15/2019 Bank A/c dr. $74,800.
To Jenny sports $74,800.
(being payment due received)

I hope the above provided journal entries are helpful to you.

If you are satisfied with the above journal entries please provide the positive feedback.

Thank you.