STEVENS REALTY
Paid $300 to send employees to realtor's workshop.
is it:
Salaries Expense (DEBIT)
Cash (CREDIT)
OR
Salaries Expense (DEBIT)
Salaries Payable (CREDIT)
Based on the information provided, the correct journal entries for this transaction would be:
Salaries Expense (DEBIT) - This expense account is debited because the payment of $300 is related to salaries paid to employees.
Cash (CREDIT) - This asset account is credited because $300 is being paid out in cash.
The journal entries would look like this:
Debit: Salaries Expense (300)
Credit: Cash (300)
In this case, there is no mention of Salaries Payable, as the payment is being made in cash, rather than on credit or on account.
Based on the information given, the correct journal entry for this transaction would be:
Salaries Expense (DEBIT)
Cash (CREDIT)
This journal entry records the expense of sending employees to a realtor's workshop. Salaries Expense is debited to increase the expense account, and Cash is credited to decrease the asset account. This entry assumes that the company paid for the workshop directly in cash.