Millie\'s Bakery employees earn $450 a week for a five-day work week and are pai
ID: 2483839 • Letter: M
Question
Millie's Bakery employees earn $450 a week for a five-day work week and are paid every Friday. If December 31 falls on a Wednesday, calculate the amount that is owed and select the adjusting entry needed to record the owed but unpaid salaries as of December 31.
a debit to Income Summary for $180 and a credit to Salaries Payable for $180.
a debit to Salaries Expense for $450 and a credit to Salaries Payable for $450.
a debit to Salaries Expense for $270 and a credit to Salaries Payable for $270.
a debit to Salaries Payable for $270 and a credit to Salaries Expense for $270.
Explanation / Answer
a debit to Salaries Expense for $270 and a credit to Salaries Payable for $270.