Salaries are $6,500 per week for five working days and are paid weekly at the end of the day Fridays. The end of the month falls on a Thursday. The accountant for Dayton, 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 $5,200
B) debit balance of $1,300
C) debit balance of $5,200
D) credit balance of $1,300
A .Salaries per day = $6,500 / 5 days = $1,300 per day
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