Which of the following is a possible adjusting journal entry?
A)Debit Cash,credit Accounts Payable.
B)Debit Service Revenue,credit Cash.
C)Debit Salaries Expense,credit Salaries Payable.

Question

Quizplus · Accepted Answer

Option C is a possible adjusting journal entry as it reflects an increase in expenses that have been incurred but not yet paid (Salaries Expense) and a corresponding increase in liabilities (Salaries Payable). Option A is incorrect as it would simply be reversing a previous transaction where Accounts Payable was debited and Cash was credited. Option B is incorrect as it reflects a regular transaction rather than an adjusting entry.

Which of the Following Is a Possible Adjusting Journal Entry