X Company pays its employees twice amonth, on the 15th and the 28th. OnApril 15, it paid employee salaries of$2,000. This transaction would:Increase owner's equity by $2,000Decrease the balance in Salaries andWages Expense by $2,000Increase the balance in Salaries andWages Expense by $2,000Be recorded by a $2,000 debit toSalaries and Wages Expense and a$2,000 credit to Salaries and WagesPayableO None of the above

SOLUTION- Salary payable can be attributed to the type of payroll journal entry that shall be used…

Answered: X Company pays its employees twice a…

X Company pays its employees twice a month, on the 15th and the 28th. On April 15, it paid employee salaries of $2,000. This transaction would: *

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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