A business pays weekly salaries of $25 000 on Friday for a five-day week ending on that day.The adjusting entry necessary at the end of the financial period ending on Wednesday is:
$$\begin{array} { l l l l l }
\text { A. DR Salaries payable } & \$ 15000 & \text { CR Cash } & \$ 15000 \
\text { B. DR Salary expense } & \$ 15000 & \text { CR Salaries payable } & \$ 15000 \
\text { C. DR Salary expense } & \$ 10000 & \text { CR Salaries payable } & \$ 10000 \
\text { D. DR Salaries payable } & \$ 10000 & \text { CR Cash } & \$ 10000
\end{array}$$

Question

A business pays weekly salaries of $25 000 on Friday for a five-day week ending on that day.The adjusting entry necessary at the end of the financial period ending on Wednesday is:
$$\begin{array} { l l l l l } 
\text { A. DR Salaries payable } & \$ 15000 & \text { CR Cash } & \$ 15000 \
\text { B. DR Salary expense } & \$ 15000 & \text { CR Salaries payable } & \$ 15000 \
\text { C. DR Salary expense } & \$ 10000 & \text { CR Salaries payable } & \$ 10000 \
\text { D. DR Salaries payable } & \$ 10000 & \text { CR Cash } & \$ 10000
\end{array}$$

Quizplus · Accepted Answer

The Answer of A business pays weekly salaries of $25 000 on Friday for a five-day week ending on that day.The adjusting entry necessary at the end of the financial period ending on Wednesday is:
$$\begin{array} { l l l l l } 
\text { A. DR Salaries payable } & \$ 15000 & \text { CR Cash } & \$ 15000 \
\text { B. DR Salary expense } & \$ 15000 & \text { CR Salaries payable } & \$ 15000 \
\text { C. DR Salary expense } & \$ 10000 & \text { CR Salaries payable } & \$ 10000 \
\text { D. DR Salaries payable } & \$ 10000 & \text { CR Cash } & \$ 10000
\end{array}$$

A Business Pays Weekly Salaries of $25 000 on Friday