The Adjusting Entry to Record the Earned but Unpaid Salaries

question 116

Multiple Choice

The adjusting entry to record the earned but unpaid salaries of employees at the end of an accounting period is:

• A) Debit Unpaid Salaries and credit Salaries Payable.
• B) Debit Salaries Payable and credit Salaries Expense.
• C) Debit Salaries Expense and credit Cash.
• D) Debit Salaries Expense and credit Salaries Payable.
• E) Debit Cash and credit Salaries Expense.

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Definitions:

Collectivism

A cultural value emphasizing the importance of groups and collective goals over individual desires or identities.

Individualism

The principle of being independent and self-reliant, often prioritizing personal goals over group objectives.

Independence

The state or quality of being self-reliant and not dependent on others for decision-making or support.

Imposter Phenomenon

The experience of feeling like a phony, a fraud, or a fake.