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nydimaria [60]
3 years ago
6

Buster industries pays weekly salaries of $17,800 on friday for a five-day week ending on that day. the adjusting entry necessar

y at the end of the fiscal period ending on tuesday is
Business
1 answer:
faust18 [17]3 years ago
6 0
<span>salaries payable: (17,800/5)*2= 7,120 (credit) salaries expenses: 7,120 (debit)</span>
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Date    Account Titles            Debit         Credit

Oct 1    Cash                          $16,800

                 Common Stock                      $16,800

Oct 2    No journal entry             -                  -

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                  Accounts Payable                  $2,500

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Oct 27   Accounts Payable       $1,100

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Oct 30   Salaries Expense       $2,650

                    Cash                                      $2,650

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