Buster Industries pays weekly salaries of $49,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is O debit Salary Expense, $19,600; credit Salaries Payable, $19,600 O debit Salary Expense, $19,600; credit Dividends, $19,600 O debit Dividends, $19,600; credit Cash, $19,600 O debit Salaries Payable, $19,600; credit Cash, $19,600

Buster Industries pays weekly salaries of $49,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is O debit Salary Expense, $19,600; credit Salaries Payable, $19,600 O debit Salary Expense, $19,600; credit Dividends, $19,600 O debit Dividends, $19,600; credit Cash, $19,600 O debit Salaries Payable, $19,600; credit Cash, $19,600

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 45BE

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