A Business Pays Salaries of $140 000 on the First

question 90

Multiple Choice

A business pays salaries of $140 000 on the first and fifteenth day of every month. Which of the following is the adjusting entry required on 30 June 2014?

• A)A debit of $140 000 to Salaries expense and a credit of $140 000 to Salaries receivable.
• B)A debit of $140 000 to Salaries expense and a credit of $140 000 to Salaries payable.
• C)A debit of $140 000 to Salaries receivable and a credit of $140 000 to Salaries payable.
• D)No adjusting entry is required.

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Definitions:

Distressed

Experiencing anxiety, sorrow, or pain; a state of mental suffering often triggered by external or internal stressors.

Impulsivity

The tendency to act on urges and desires without considering the consequences, often leading to hasty or poorly thought-out decisions.

Obesity

A medical condition characterized by excessive body fat that increases the risk of health problems.

Self-Control

The ability to regulate one's emotions, thoughts, and behavior in the face of temptations and impulses.