Corse BUS 205-Inter. O ezta.mheducation.com/hm.tpx a Apps O Geting Started impor

Question

Corse BUS 205-Inter. O ezta.mheducation.com/hm.tpx a Apps O Geting Started imported FromlE Imported From Fire: Domain Manager- D CheapDomancom ) Student Brief Exercise 21-4 Determine cash paid to employees [LO21-3] Sherriane Baby Products' salaries expense was $14.6 miltion a what is the amount of cash Shernane paid to employees during the reporting penodits saares payable increased by $8 5 milion? 5500,000 should be entered as answer in mitions rounded to 1 decimal place ie milion a summary entry that represents the net eflect of salaries expense incurred and paid during the t no entry is required for a transactionievent, select No journal entry reporing peniod (Enber your answers in mions rounded to 1 decimal place fl.85,500,000 should be entered as 5.5, If required" in the nirst account fiold.) Journal entry worksheet Prepare the summary entry for salaries during the reporting period. Event General Journal Debit Credit

Explanation / Answer

a) Cash paid for salary expenses = (14.60-8.50) = 6.10 million

b) Journal entry :

Date accounts & explanation debit credit Salary expenses 6.10 Cash a/c 6.10

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