On December 31, 2014, Axle Services prepared the following accrual adjustment:
$$\begin{array} { | c | r | r | }
\hline \text { Salaries Expense } & 1,000 & \
\hline \text { Salaries Payable } & & 1,000 \
\hline
\end{array}$$ Axle uses reversing entries. Prepare the reversing entry that would be prepared on January 1, 2015?

Question

On December 31, 2014, Axle Services prepared the following accrual adjustment:
 $$\begin{array} { | c | r | r | } 
\hline \text { Salaries Expense } & 1,000 & \
\hline \text { Salaries Payable } & & 1,000 \
\hline
\end{array}$$ Axle uses reversing entries. Prepare the reversing entry that would be prepared on January 1, 2015?

Quizplus · Accepted Answer

The Answer of On December 31, 2014, Axle Services prepared the following accrual adjustment:
 $$\begin{array} { | c | r | r | } 
\hline \text { Salaries Expense } & 1,000 & \
\hline \text { Salaries Payable } & & 1,000 \
\hline
\end{array}$$ Axle uses reversing entries. Prepare the reversing entry that would be prepared on January 1, 2015?