select the correct answer. jamie is the accountant of a logistics company. in the month of december, $5,000…
select the correct answer. jamie is the accountant of a logistics company. in the month of december, $5,000 of wages remained unpaid. the accounting period of the company ends in the month of december. what will be the adjusting entry passed by jamie? o a. wages account - debit wages payable account - credit o b. wages account - debit cash account - credit o c. wages payable account - debit bank account - credit o d. wages payable account - debit wages account - credit
Answer
Brief Explanations:
When wages are unpaid at the end of an accounting - period, an adjusting entry is made to recognize the expense and the liability. The expense (Wages Account) is debited to record the expense incurred, and the liability (Wages Payable Account) is credited to show the amount owed.
Answer:
A. Wages Account – Debit, Wages Payable Account – Credit