Question

fill in the blank question
by the end of the accounting period, employees have earned salaries of $650, but they will not be paid until the following pay period. demonstrate the required adjusting entry by completing the following sentence. the required adjusting entry would be to debit the salaries (expense/payable) account and (debit/credit) the salaries (expense/payable/unearned) account.
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Explanation:

This is an accrued expense adjustment. When employees earn salaries but are not yet paid, the company must recognize the incurred salary expense (debit to increase the expense account) and record a liability for the unpaid amount (credit to increase Salaries Payable, a liability account). Unearned revenue does not apply here as this is an expense, not unearned income.

Answer:

The required adjusting entry would be to debit the Salaries expense account and credit the Salaries payable account.