posted by Sally .
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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