The chart of accounts for Miguel Company includes the following: Page 5 of the journal contains the following transaction: What is the posting reference that will be found in the salaries expense account?
A)5
B)11
C)54
D)21

Question

The chart of accounts for Miguel Company includes the following:​  Page 5 of the journal contains the following transaction:​  What is the posting reference that will be found in the salaries expense account?
A)5 
B)11 
C)54 
D)21

Quizplus · Accepted Answer

The transaction involves salaries, which is an expense account. The posting reference for the expense account in the journal entry is always the debit amount, which in this case is $9,600 and is found in the first column of page 5 of the journal. The posting reference of this amount will be found in the salaries expense account, which is account number 6110. Looking at the chart of accounts, the salaries expense account has a posting reference of 5. Therefore, the answer is A.

The Chart of Accounts for Miguel Company Includes the Following:​

The Chart of Accounts for Miguel Company Includes the Following: