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April 16, 2014

Homework Help: xacc 280

Posted by Sally on Saturday, July 31, 2010 at 10:40pm.

At October 31, Nathan Company made an accrued expense adjusting entry of $1,400

for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries

Payable and Salaries Expense after posting the reversing entry.


can someone tell me if this is the correct answer??

Nov. 1 Salaries Payable 1,400
Salaries Expense 1,400

The balances after posting the reversing entry are Salaries Expense (Cr.) $1,400 and Salaries Payable $0.

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