A Business Pays Its Employees' Monthly Salaries of $20,000,half on the 15^th

question 100

Essay

A business pays its employees' monthly salaries of $20,000,half on the 15^th day of each month,and half on the first day of the following month.On October 31,the business accrued salaries for the second half of October.On November 1,the business paid their employees $10,000 for the second half of October.Please provide the journal entry for the payment made on November 1.
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Definitions:

Erikson's Stages

A theory of psychological development proposed by Erik Erikson that outlines eight stages from infancy to adulthood, each characterized by a specific conflict.

Crises

Times of intense difficulty, trouble, or danger, characterized by a need for decisive action to resolve the situation.

Reality Principle

A psychoanalytic concept where an individual learns to assess the external world and act in a way that is appropriate to societal norms, as opposed to acting on the pleasure principle.

Gratification

The feeling of pleasure or satisfaction obtained from achieving something or having one's needs fulfilled.