Month-end adjusting entry to record the salaries earned

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Reference no: EM131264877

A company pays each of its two office employees each Friday at the rate of $230 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is: Debit Salaries Payable $920 and credit Salaries Expense $920. Debit Salaries Expense $920 and credit Cash $920. Debit Salaries Expense $920 and credit Salaries Payable $920. Debit Unpaid Salaries $1,380 and credit Salaries Payable $1,380. Debit Salaries Expense $1,380 and credit Salaries Payable $1,380.

Reference no: EM131264877

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