Salary Expense Is $2,600 Per Day, Monday Through Friday, and the Business

question 21

Multiple Choice

Salary expense is $2,600 per day, Monday through Friday, and the business pays employees each Friday. If December 31 falls on a Tuesday, the adjusting entry to record accrued salaries would be to:

• A)debit Salaries Payable, $2,600; credit Salaries Expense, $2,600.
• B)debit Salaries Expense, $5,200; credit Salaries Payable, $5,200.
• C)debit Salaries Expense, $2,600; credit Salaries Payable, $2,600.
• D)debit Salaries Payable, $5,200; credit Salaries Expense, $5,200.

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Definitions:

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A form of protest or labor strike where workers legally gather outside a place of work to express a grievance or enforce a demand.

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The process in which employers and the representatives of a workforce negotiate terms of employment, including wages and working conditions.

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A work stoppage by employees that is authorized by law and typically follows prescribed procedures.

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A legal proceeding in which a court determines whether a lawsuit meets the necessary criteria to be treated as a class action.