A company recorded 2 days of accrued salarles of $1,650 for its employees on January 31. On February 9, it paid its employees $7,500 for these accrued salaries and for other salaries earned through February 9. The January 31 and February 9 Journal entries are: Multiple Choice O O Date 1/31 Account Title Salaries Expense Salaries Payable 2/9 Salaries Expense Salaries Payable Cash 2/9 Date 1/31 Salaries Expense Cash Account Title Salaries Expense Cash Account Title Date 1/31 Salaries Expense Salaries Payable 2/9 Salaries Payable Debit 1,650 5,850 1,650 Debit 1,650 7,500 Debit 1,650 7,500 Credit 1,650 7,500 Credit 1,650 7,500 Credit 1,650

A company recorded 2 days of accrued salarles of $1,650 for its employees on January 31. On February 9, it paid its employees $7,500 for these accrued salaries and for other salaries earned through February 9. The January 31 and February 9 Journal entries are: Multiple Choice O O Date 1/31 Account Title Salaries Expense Salaries Payable 2/9 Salaries Expense Salaries Payable Cash 2/9 Date 1/31 Salaries Expense Cash Account Title Salaries Expense Cash Account Title Date 1/31 Salaries Expense Salaries Payable 2/9 Salaries Payable Debit 1,650 5,850 1,650 Debit 1,650 7,500 Debit 1,650 7,500 Credit 1,650 7,500 Credit 1,650 7,500 Credit 1,650

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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