16 May, 05:57

# A company pays each of its two office employees each Friday at the rate of \$210 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is: Multiple Choice Debit Salaries Expense \$1,260 and credit Salaries Payable \$1,260. Debit Salaries Payable \$840 and credit Salaries Expense \$840. Debit Unpaid Salaries \$1,260 and credit Salaries Payable \$1,260. Debit Salaries Expense \$840 and credit Salaries Payable \$840.

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1. 16 May, 06:03
0
Debit Salaries Expense \$840

Credit Salaries Payable \$840

Explanation:

The are two office employees so 2*210=\$420

To record the month-end salaries of 2 employees which is due but not paid = 420*2 = \$840
2. 16 May, 07:34
0

Debit Salaries Expense \$840

Credit Salaries Payable \$840

Explanation:

2 employees each paid at \$ 210 per day so daily salary expense is \$210*2 = \$420.

The accounting period ends on Tuesday and both employees work for Monday and Tuesday so the 2 days salaries expense is \$420*2 = \$840.

As the salaries are paid on every Friday so there is a liability on a company for the 2 days salary payable to be recorded on accounting period close date i. e Tuesday.