Wages Are $37,500 Per Week for a Five-Day Workweek, Ending

question 27

Multiple Choice

Wages are $37,500 per week for a five-day workweek, ending on Friday. The last payday of the year was Friday, June 26. Which of the following is correct for the reversing entry on July 1?

• A) credit Salaries Payable for $15,000
• B) debit Salaries Payable for $37,500
• C) debit Salaries Expense for $15,000
• D) credit Salaries Expense for $15,000

---

Definitions:

Maintenance Management

The process of overseeing and coordinating maintenance resources and activities to ensure organizational assets are kept in usable condition and available as needed.

Power Plant Maintenance

The routine, preventative, and corrective maintenance tasks required to ensure the efficient and safe operation of a power generation facility.

Unexpected Failure

The sudden malfunction or breakdown of equipment or systems that were not anticipated based on their performance history or maintenance schedules.

Redundant Part

A component in a system designed as a backup or fail-safe, intended to function in case the primary part fails, ensuring reliability and continuity of operations.