For this financial accounting period, the proper adjusting entry should be: debit salaries expense for $500.
A journal entry can be defined as a process which involves keeping the records of business transactions such as sales, salaries, etc, that are made by a business organization.
Generally, the journal entry is used by both bookkeepers and accountants. Thus, it is very important that a journal comprises the following information;
In this scenario, the proper adjusting entry of these employees should be debit salaries expense for $500 with respect to the financial accounting period.
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Complete Question:
By the end of the accounting period, employees have earned salaries of $500, but they will not be paid until the following pay period. Which of the following is the proper adjusting entry?
O Credit Salaries expense for $500.
O Debit Salaries payable for $500.
O Credit Unearned revenues for $500.
O Debit Salaries expense for $500.
