Salaries Are $5,000 Per Week for Five Working Days and Are

question 191

Multiple Choice

Salaries are $5,000 per week for five working days and are paid weekly at the end of the day on Fridays. The end of the month falls on a Thursday. The accountant for Sunset, Inc. made the appropriate accrual adjustment and posted it to the ledger. The balance of Salaries Payable, as shown on the adjusted trial balance, will be a ________. (Assume that there was no beginning balance in the Salaries Payable account.)

• A) credit balance of $4,000
• B) debit balance of $1,000
• C) debit balance of $4,000
• D) credit balance of $1,000