Assume that the City of Juneau maintains its books and records to facilitate the preparation of its government-wide financial statements.The City pays its employees bi-weekly on Friday.The fiscal year ended on Wednesday, June 30.Employees had been paid on Friday, June 25.The employees paid from the General Fund had earned $90,000 on Monday, Tuesday, and Wednesday June 28, 29, and 30.They will earn $60,000 on Thursday and Friday July 1 and 2.What entry, if any, should be made on June 30?
A)Debit Expenditures $90,000; Credit Wages and salaries payable $90,000.
B)Debit Expenditure $150,000; Credit Wages and salaries payable $150,000.
C)Debit Expenses $90,000; Credit Wages and salaries payable $90,000.
D)No entry is required.

Question

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The Answer of Assume that the City of Juneau maintains its books and records to facilitate the preparation of its government-wide financial statements.The City pays its employees bi-weekly on Friday.The fiscal year ended on Wednesday, June 30.Employees had been paid on Friday, June 25.The employees paid from the General Fund had earned $90,000 on Monday, Tuesday, and Wednesday June 28, 29, and 30.They will earn $60,000 on Thursday and Friday July 1 and 2.What entry, if any, should be made on June 30?
A)Debit Expenditures $90,000; Credit Wages and salaries payable $90,000.
B)Debit Expenditure $150,000; Credit Wages and salaries payable $150,000.
C)Debit Expenses $90,000; Credit Wages and salaries payable $90,000.
D)No entry is required.

Assume That the City of Juneau Maintains Its Books and Records