Ellis Service Company had the following unadjusted balances at December 31, 2016: Salaries Payable, $0; Salaries Expense, $12,000
The following transactions took place on December 31, 2016:
Accrued Salaries Expense, $5,000
Closed the Salaries Expense account.
The following transaction took place on January 4, 2017:
Paid salaries of $6,000. This payment included $5,000 that was accrued on December 31, 2016 and $1,000 for the first few days in January 2017.
Prepare the journal entry for January 4, 2017, assuming that reversing entries were not made.
What will be an ideal response
Salaries Payable 5,000
Salaries Expense 1,000
Cash 6,000
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