On December 31,2016,Axle Services,Inc.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 1,2017.

Question

On December 31,2016,Axle Services,Inc.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 1,2017.

Quizplus · Accepted Answer

The Answer of On December 31,2016,Axle Services,Inc.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 1,2017.

On December 31,2016,Axle Services,Inc Salaries Expense 1,000 Salaries Payable 1,000\begin{array} { | c | r | r | } \hline \text { Salaries Expense } & 1,000 & \\\hline \text { Salaries Payable } & & 1,000 \\\hline\end{array} Salaries Expense Salaries Payable ​1,000​1,000​​

On December 31,2016,Axle Services,Inc $\begin{array} { | c | r | r | } \hline \text { Salaries Expense } & 1,000 & \\\hline \text { Salaries Payable } & & 1,000 \\\hline\end{array}$