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15.      Pace's Hardware, a Corporation, pays its employees each Friday for a five-day total workweek. The payroll is $12,000 per week. If the end of the accounting period occurs on a Wednesday, the adjusting entry to record Salaries Payable would include a:         a.       Debit to Salary Expense of $4,800.           b.       Debit to Salary Expense of $6,000.           c.        Credit to Salaries Payable of $2,400.           d.       Credit to Salaries Payable of $7,200.

15.      Pace's Hardware, a Corporation, pays its employees each Friday for a five-day total workweek. The payroll is $12,000 per week. If the end of the accounting period occurs on a Wednesday, the adjusting entry to record Salaries Payable would include a:         a.       Debit to Salary Expense of $4,800.           b.       Debit to Salary Expense of $6,000.           c.        Credit to Salaries Payable of $2,400.           d.       Credit to Salaries Payable of $7,200.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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15.      Pace's Hardware, a Corporation, pays its employees each Friday for a five-day total workweek. The payroll is $12,000 per week. If the end of the accounting period occurs on a Wednesday, the adjusting entry to record Salaries Payable would include a:

        a.       Debit to Salary Expense of $4,800.

          b.       Debit to Salary Expense of $6,000.

          c.        Credit to Salaries Payable of $2,400.

          d.       Credit to Salaries Payable of $7,200.

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