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.
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....
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![Salaries Payable account had 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4a8023c3-c690-4e2c-b9f1-72fb581950b4%2F7189e4ab-0772-4978-b634-cddf3e45d30e%2F2ekc87k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Salaries Payable account had 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.
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