The adjusting entry to record the earned but unpaid salaries of employees at the end of the accounting period is:
A)Debit Salaries Expense and credit Salaries Payable.
B)Debit Salaries Payable and credit Salaries Expense.
C)Debit Salaries Expense and credit Cash.
D)Debit Unpaid Salaries and credit Salaries Payable.
E)Debit Cash and credit Salaries Expense.

Question

Quizplus · Accepted Answer

The adjusting entry to record the earned but unpaid salaries of employees at the end of the accounting period is to debit Salaries Expense and credit Salaries Payable because the company has incurred an expense (Salaries Expense) but has not yet paid the employees (Salaries Payable).

The Adjusting Entry to Record the Earned but Unpaid Salaries