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ges Payable ges Expense ges Payable ages Expense 71,500 57,000 57,000 71,500 71,500 57,000 57,000 71,500

ges Payable ges Expense ges Payable ages Expense 71,500 57,000 57,000 71,500 71,500 57,000 57,000 71,500

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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For the month of September, Seawide Sales, Inc. recorded gross pay of $71,500. The net pay for the month amounted to $57,000. The salaries are paid on October 5. Which of the following is the journal entry for the payment of salaries? Salaries and Wages Payable 71,500 Cash Salaries and Wages Expense Cash Salaries and Wages Payable Cash Cash Salaries and Wages Expense 57,000 57,000 71,500 71,500 57,000 57,000 71,500
Transcribed Image Text:For the month of September, Seawide Sales, Inc. recorded gross pay of $71,500. The net pay for the month amounted to $57,000. The salaries are paid on October 5. Which of the following is the journal entry for the payment of salaries? Salaries and Wages Payable 71,500 Cash Salaries and Wages Expense Cash Salaries and Wages Payable Cash Cash Salaries and Wages Expense 57,000 57,000 71,500 71,500 57,000 57,000 71,500
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