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How much salary expense should be recorded two days

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Reference no: EM133010348

Problem 1: Employees at HYPE BELIEVE Corp. are paid P5,000 cash every Friday for working Monday through Friday. The calendar year accounting period ends on Wednesday, December 31. How much salary expense should be recorded two days later on January 2?

Group of answer choices

Option 1: None, matching requires the weekly salary to be accrued on December 31.

Option 2: P3,000

Option 3: P2,000

Option 4: P5,000

Reference no: EM133010348

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