When a single-check for payroll is prepared and deposited into a special payroll bank account,which of the following entries is made to record the deposit?

Question

Quizplus · Accepted Answer

When a single check for payroll is prepared and deposited into a special payroll bank account, the entry to record the deposit would be to debit Payroll Cash (the special payroll bank account) and credit Cash (the bank account from which the check was issued). This entry separates the payroll cash from other cash transactions and allows for easier tracking and reconciliation. None of the other answer choices reflect this specific situation.

When a Single-Check for Payroll Is Prepared and Deposited into a Special