Question

Bank 'n' Roll, Inc. pays its employees once a month and records the expense at the time of payment. On May 31, Bank 'n' Roll, Inc. paid its employees $10,000 for work performed in May. The entry to record the payment includes a ________ for $10,000.a. debit to Cashb. credit to wages Expensec. credit to wages Payabled. debit to Wages Expensee. credit to Cash

Answer 1

Answer:

debit to Wages Expensee. credit to Cash

Explanation:

As the wages are paid on the day when it is accrued, so there will not be any accrual entry because the expense incurred has been paid. At the last day of May all the wages paid for that month. There is no/ after payable on that day. So the correct entry will be debit to Wages Expensee. credit to Cash.