Reference no: EM132544460
Collins Equipment Rentals has three employees who each earn $1,000 for a five-day work week. Payday is every Friday. December 31 of the current year falls on a Tuesday.
Question 1: The adjusting journal entry Collins Equipment Rentals needs to record at December 31 of the current year is:
Group of answer choices
Option 1: Salaries expense ............. 600
Salaries payable .................. 600
Option 2: Salaries expense ............. 1,200
Salaries payable .................. 1,200
Option 3: Salaries expense ............. 1,800
Salaries payable .................. 1,800
Option 4: Salaries expense ............. 2,400
Salaries payable .................. 2,400
Option 5: Salaries expense ............. 3,000
Salaries payable .................. 3,000
Option 6: Salaries payable .............. 600
Salaries expense ................. 600
Option 7: Salaries payable .............. 1,200
Salaries expense ................. 1,200
Option 8: Salaries payable .............. 1,800
Salaries expense ................. 1,800
Option 9: Salaries payable .............. 2,400
Salaries expense ................. 2,400
Option 10: Salaries payable .............. 3,000
Salaries expense ................. 3,000
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