S 3-5 Accruing salaries L.O. A1, P1 Marsha Moder employs one college student eve
ID: 2350757 • Letter: S
Question
S 3-5 Accruing salaries L.O. A1, P1
Marsha Moder employs one college student every summer in her coffee shop. The student works the five weekdays and is paid on the following Monday. (For example, a student who works Monday through Friday, June 1 through June 5, is paid for that work on Monday, June 8.) Moder adjusts her books monthly, if needed, to show salaries earned but unpaid at month-end. The student works the last week of July
Marsha Moder employs one college student every summer in her coffee shop. The student works the five weekdays and is paid on the following Monday. (For example, a student who works Monday through Friday, June 1 through June 5, is paid for that work on Monday, June 8.) Moder adjusts her books monthly, if needed, to show salaries earned but unpaid at month-end. The student works the last week of July
Explanation / Answer
31 Jul'yy Salary Payable Dr 400 Accrued Salary Cr 400 (To record Salary accrud for 4 days @$100pd) 4 Aug'yy Salary Payable Dr 100 Accrued Salary Dr 400 Cash Cr 500 (Record payanment fo Salary for 4 ays in Jul & 1 day of Aug)
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