Business
Business, 27.06.2020 02:01, montanolumpuy

During the year, Cheng Company paid salaries of $24,000. In addition, $8,000 in salaries has accrued by the end of the year but has not been paid. The year-end adjusting entry would include which one of the following? Can anyone figure this out? Explain why? A. Debit to Salaries Expense for $32,000.
B. Credit to Salaries Expense of $8,000.
C. Debit to Salaries Payable for $24,000.
D. Credit to Salaries Payable for $8,000.

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Answers: 3

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During the year, Cheng Company paid salaries of $24,000. In addition, $8,000 in salaries has accrued...

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