Business, 11.05.2021 20:40 ur4286

Chase Company has 10 employees, who earn a total of $1,900 in salaries each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that year ended on December 31, which is a Wednesday, and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is: Multiple Choice Debit Salaries Expense, $9,500; credit Salaries Payable, $9,500. Debit Salaries Expense, $5,700; credit Cash, $5,700. Debit Salaries Expense, $3,800; credit Salaries Payable, $3,800. Debit Salaries Payable, $5,700; credit Salaries Expense, $5,700. Debit Salaries Expense, $5,700; credit Salaries Payable, $5,700.

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Chase Company has 10 employees, who earn a total of $1,900 in salaries each working day. They are pa...

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