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During the year, Cheng Company paid salaries of $23,100. In addition, $9,300 in salaries has accrued by the end of the year but has not been paid. The year-end adjusting entry would include which one of the following?a) Credit to salaries payable for $9,300
b) Credit to salaries expense of $9,300
c) Debit to salaries payable for $23,100
d) Debit to salaries expense for $32,300

Respuesta :

sebastiansierraocm

Answer:

a) Credit to salaries payable for $9,300

Explanation:

Accrued salaries is a liability account because it represents an obligation that the company will have to pay in the near future. The journal entry for this transaction would be:

Account                       Debit           Credit

Salaries Expense       $9,300

Salaries Payable                             $9,300

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