Question

On Tuesday March 31, 20X1 the Bravo Company had accrued wages of $1,000. Friday, April 3, Bravo paid employee wages of $2,500 for the week. Prepared the general journal entry (without explanation) needed for March 31, 20X1. If no entry is required then write "No Entry Required."

Answer 1

Explanation:

The journal entry is shown below:

March 31

Wages Expense A/c Dr 1,000

              To Wages payable A/c $1,000

(Being the accrued wages are recorded)

For recording the accrued wages, we debited the wages expense account and credited the wages payable account. Both the account are recorded for $1,000 only