The employees of Able Company have worked the last two weeks of Year 1,but the employees' salaries have not been paid or recorded as of December 31,Year 1.The adjusting entry that Able should make to accrue these unpaid salaries on December 31,Year 1 is:
A)debit to Salaries Expense and credit to Cash.
B)debit to Salaries Expense and credit to Salaries Payable.
C)debit to Salaries Payable and credit to Salaries Expense.
D)no entry is required until the employee is paid next period.

Question

Quizplus · Accepted Answer

Accruing salary expenses will increase Salaries Expense and increase Salaries Payable,a liability.The journal entry would be a debit to Salaries Expense and a credit to Salaries Payable.

The Employees of Able Company Have Worked the Last Two