During the period,Trial Company paid salaries of $5000,but still owe $500 for work completed.The company had $2000 of supplies on hand at the beginning of the period; $400 of which,still remained at the end.Furthermore,they paid for their rent in advance in the amount of $1,200,but only used $400 for the month.You are asked to record these entries.

Question

Quizplus · Accepted Answer

The Answer of During the period,Trial Company paid salaries of $5000,but still owe $500 for work completed.The company had $2000 of supplies on hand at the beginning of the period; $400 of which,still remained at the end.Furthermore,they paid for their rent in advance in the amount of $1,200,but only used $400 for the month.You are asked to record these entries.

During the Period,Trial Company Paid Salaries of $5000,but Still Owe