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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Clear Cleaning Services pays out wages every week on Friday. Payroll expense totals $4,000 per week, based on a five-day week. The month of June ended on a Thursday. On Thursday, June 30, Clear made the following accrual adjustment:

Wages Expense   3,200   
      Wage Payable             3,200

At the same time, they prepared the following reversing entry to be booked on July 1:

Wages Payable   3,200   
       Wages Expense            3,200

On Friday afternoon, when wages were paid, what journal entry was made?
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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.unplugged..unplugged.
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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