journal entry worksheet\n1 2 3 4 5 6\nwages of $10,000 are earned by workers but not paid as of december…
journal entry worksheet\n1 2 3 4 5 6\nwages of $10,000 are earned by workers but not paid as of december 31.\nnote: enter debits before credits.\ntransaction general journal debit credit\na
Answer
Explanation:
Step1: Identify the accounting concept
This is an accrued - expense situation. Expenses are recognized when incurred, not when paid.
Step2: Determine the accounts involved
The expense account 'Wages Expense' is debited as it increases, and the liability account 'Wages Payable' is credited as the company owes workers.
Step3: Record the journal entry
Debit Wages Expense for $10,000 and credit Wages Payable for $10,000.
Answer:
| Transaction | General Journal | Debit | Credit |
|---|---|---|---|
| a | Wages Expense | $10,000 | |
| Wages Payable | $10,000 |