Question

question
which of the following statements is correct?
answer
salaries payable decreases with a credit entry.
salaries payable increases with a debit entry.
accounts payable increases with a debit entry.
accounts payable increases with a credit entry.
i dont know yet

Explanation:

To determine the correct statement, we analyze the nature of "Salaries Payable" and "Accounts Payable" (both are liability accounts). For liability accounts:

• Increases are recorded with a credit entry.
• Decreases are recorded with a debit entry.

1. Analyzing "Salaries Payable decreases with a credit entry": Since liabilities decrease with debit, this is incorrect.
2. Analyzing "Salaries Payable increases with a debit entry": Liabilities increase with credit, so this is incorrect.
3. Analyzing "Accounts Payable increases with a debit entry": Liabilities increase with credit, so this is incorrect.
4. Analyzing "Accounts Payable increases with a credit entry": As "Accounts Payable" is a liability, it increases with a credit entry. This is correct.

Answer:

D. Accounts Payable increases with a credit entry.