Which of the following describes the transaction resulting in a journal entry with a debit to Salaries payable and a credit to Cash?
A) Salaries expense has been incurred but is unpaid.
B) Cash was used to pay for salaries that were previously recorded as an expense.
C)Cash was used to pay for salaries that were not previously recorded as an expense.
D)Cash was used to prepay employee wages.

Question

Quizplus · Accepted Answer

The transaction involves paying off a liability (Salaries payable) with cash, which means salaries were previously recorded as an expense and are now being paid.

Which of the Following Describes the Transaction Resulting in a Journal