Reference no: EM132816040
Problem 1: Paulo Jake is the caretaker of the farm where the breeding stocks of Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development is located. The caretaker receives P10,000 monthly salary. What is the entry to recognize the payment of salary of the caretaker?
Option a. Salary and Wages 10,000
Cash in Bank-Local Currency, Current Account 10,000
Option b. Salaries and Wages-Casual/Contractual 10,000
Cash in Bank-Local Currency, Current Account 10,000
Option c. Salaries and Wages-Casual/Contractual 10,000
Cash-Modified Disbursement System, Regular 10,000
Option d. Salary and Wages 10,000
Cash-Modified Disbursement System, Regular 10,000 2