Salaries Payable account nad a beginning balance of $ 28,000 on May 1. During the month of May monthly salaries of $ 126,000 were accrued as expense. Ending balance of the Salaries Payable account is $ 15,000 as of May, 31. Required: Record the journal entry for the amount of cash the company paid for salaries during the month of May.

Salaries Payable account nad a beginning balance of $ 28,000 on May 1. During the month of May monthly salaries of $ 126,000 were accrued as expense. Ending balance of the Salaries Payable account is $ 15,000 as of May, 31. Required: Record the journal entry for the amount of cash the company paid for salaries during the month of May.

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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