Answer:
d. Salaries and Wages Expense 550, Advertising Expense 950, Cash 1,500
Explanation:
Whenever a new entry is posted firstly the accounts which are debited are entered.
Secondly the accounts which are credited are posted.
And, the total of debit and total of credit shall always be same, so that the entry is recorded properly.
As an expense, it reduces income and is always debited.
And as for settling the expenses cash is paid, cash being an asset when reduced will be credited.
Total expenses debited = Salaries and Wages + Advertising Expense = 550 + 950 = 1,500
Therefore, as against it cash paid = $1,500 shall be credited.
Cash = $1,500
Thus, correct option is d.
