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A Company Shows a Balance in Salaries and Wages Payable \quad

Question 135

Short Answer

A company shows a balance in Salaries and Wages Payable of $38,000 at the end of the month. The next payroll amounting to $48,000 is to be paid in the following month. What will be the journal entry to record the payment of salaries? a. Salaries and Wages Expense \quad\quad 48,000
\quad Salaries and Wages Payable \quad\quad 48,000
b. Salaries and Wages Expense \quad\quad 48,000
\quad Cash \quad\quad 48,000
c. Salaries and Wages/Expense
\quad Cash \quad\quad 10,000
d. Salaries and Wages Expense \quad\quad 10,000
\quad Salaries and Wages Payable \quad\quad 38,000
\quad Cash \quad\quad 48,000

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