Which of the following is a possible adjusting entry?

A. Debit Service Revenue, credit Cash.
B. Debit Utilities Expense, credit Retained Earnings.
C. Debit Salaries Expense, credit Salaries Payable.
D. Debit Cash, credit Accounts Payable.

C. Debit Salaries Expense, credit Salaries Payable. =

Explanation:

The following would be an adjusting entry

Salaries expense A/c Dr

       To Salaries payable A/c

(Being the accrued salaries is recorded)

Simply we debited the salaries expense account and credited the salaries payable account

The rest of the options related to normal business transactions but the C option reflects the adjustment entry

Hence, option C is correct

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23

the answer is a. $209,000