Frellies Gym has a credit balance of $31,485.27 in its Wages and Salaries Payable General Ledger account as of August 16. If the pay date is August 16, what transaction should appear in the Wages and Salaries Payable
General Ledger account on that date?

Question

Quizplus · Accepted Answer

On the pay date, the company will pay off the wages and salaries payable, so the account should be debited to reduce the liability by the amount owed, which is $31,485.27.

Frellies Gym Has a Credit Balance of $31,485