Select all that apply Employees are paid $7,000 every two weeks. By the end of the accounting period, employees have earned salaries of $5,000, but they will not be paid until the following pay period. Which of the following is the proper entry to record the two weeks' salary payment following the end of the accounting period? Debit Salaries payable for $5.000. Debit Salaries expense for $7,000. Debit Salaries payable for $7,000 Debit Salaries expense for $2,000. Credit Cash for $7,000
Select all that apply Employees are paid $7,000 every two weeks. By the end of the accounting period, employees have earned salaries of $5,000, but they will not be paid until the following pay period. Which of the following is the proper entry to record the two weeks' salary payment following the end of the accounting period? Debit Salaries payable for $5.000. Debit Salaries expense for $7,000. Debit Salaries payable for $7,000 Debit Salaries expense for $2,000. Credit Cash for $7,000
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1CP: Irina Company pays its employees weekly. The last pay period for 20-1 was on December 28. From...
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