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2 years ago

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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2 years ago

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

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