Buster Industries pays weekly salaries of $44,700 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is

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Buster Industries pays weekly salaries of $44,700 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is

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Tundexiid Tundexiid · Answer 1

The adjusting entry for the form on weekly salaries includes a debit to Salary Expense for $12,000 and a credit to Salaries Payable for $12,000.

What are salaries account?

In an entry, it will be a debit to the Salary and corresponding credit to the the Bank account.

Because its pays weekly salaries of $44,700 on Friday for a five-day week ending on that day, the adjusting entry will includes a debit to Salary Expense for $12,000 and a credit to Salaries Payable for $12,000.