Powers Company accrued unpaid wages of $3,000 on January 31. These wages will be included in paychecks totaling $9,000 on February 2. The reversing entry will include a ________.
A) credit to Cash for $3,000
B) debit to Wages Payable for $9,000
C) debit to Wages Expense for $9,000
D) credit to Wages Expense for $3,000

Question

Quizplus · Accepted Answer

The reversing entry will include a credit to Wages Expense for $3,000 to reverse the accrued wages expense recorded in January.

Powers Company Accrued Unpaid Wages of $3,000 on January 31