Business, 21.09.2020 14:01, Schoolworkspace453

Flagg records adjusting entries at its December 31 year-end. At December 31, employees had earned $10,000 of unpaid and unrecorded salaries. The next payday is January 3, at which time $25,000 will be paid. Prepare the journal entry on January 3 to record payment assuming the adjusting and reversing entries were made on December 31 and January 1. a. debit salaries expense $12000; debit salaries payable $18000; credit cash $30000
b. debit salaries expense $30000; credit cash $30000
c. debits salaries payable $30000; credit cash $30000
d. debit salaries expense $18000; debit salaries payable $12000; credit cash $30000
e. debit salaries expense $18000; credit cash $18000

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Flagg records adjusting entries at its December 31 year-end. At December 31, employees had earned $1...