journal entry worksheet\nwtis two employees are paid weekly. as of the end of the year, two days salaries…

journal entry worksheet\nwtis two employees are paid weekly. as of the end of the year, two days salaries have accrued at the rate of $100 per day for each employee.\nnote: enter debits before credits.\ntransaction general journal debit credit\ng.

journal entry worksheet\nwtis two employees are paid weekly. as of the end of the year, two days salaries have accrued at the rate of $100 per day for each employee.\nnote: enter debits before credits.\ntransaction general journal debit credit\ng.

Answer

Explanation:

Step1: Calculate total accrued salary

There are 2 employees and each has 2 days' salary accrued at $100 per day. So the total accrued salary is $100\times2\times2 = 400$.

Step2: Determine debit and credit accounts

The expense account (Salaries Expense) is debited to record the increase in expense, and the liability account (Salaries Payable) is credited to record the amount owed to employees.

Answer:

Transaction General Journal Debit Credit
g. Salaries Expense 400
Salaries Payable 400