BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570
BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570

Solutions

Chapter
Section
Chapter 3, Problem 6QY
Textbook Problem

A $250 payment for salaries expense was incorrectly journalized and posted as a debit to Salaries Expense for $2,500 and a credit to Cash for $2,500. Using the one-step method, how would the entry be corrected?

  1. a. Cash    2,500

    Salaries Expense    2,500

  2. b. Salaries Expense    250

    Cash    250

  3. c. Cash    2,250

    Salaries Expense    2,250

  4. d. Salaries Expense    2,250

    Cash    2,250

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