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balandron [24]
2 years ago
7

2011/1/14 Paid wages 50,000journal entry ​

Business
1 answer:
Artemon [7]2 years ago
5 0

Answer:

see below

Explanation:

Wages are business expenses. In the Double entry system, an increase in expenses is a debit entry.

When wagers are paid, cash available reduces. Cash is an asset account. A decrease in an asset account is a credit entry.

the Journal entry in the case will be

Wages A/C   Dr   $5000

Cash A/C    Cr  $5000

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