Chapter 4, Problem 4.7MC

On July 15, Year 1, Southeastern University hired an associate professor for its Math Department at an annual (12-month) salary of $150,000. The salary is effective for its new school year, which commences August 16, and is payable in four quarterly calendar installments Assuming that the university records journal entries on a monthly basis, what is the adjusting journal entry (if any) for August 31, Year 1?

a. Salaries Expense	6,250
Accrued Salaries Payable		6,250
b. Salaries Payable	6,250
Cash		6,250
c. Salaries Expense	12,500
Accrued Salaries Payable		12,500
d. No journal entry necessary.