Question

Question 17 On January 9, a company pays $5,130 for salaries and wages of which $2,610 was reported as Salaries and Wages Payable on December 31. Give the entry to record the payment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 9 Click if you would like to show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT

Answer 1

An amount of $5130 is paid on January 9th leading to a cash outflow of $5130.

Of the amount, $2610 was reported as Salaries and Wages Payable on December 31st. Thus, the Salaries and Wages Payable would have been credited on December 31st. Now the same shall be reversed.

Balance of $2520 shall be recorded as Salaries and Wages Expenses.

Thus, the journal entry would be

Date	Accounts Title	Debit	Credit
Jan. 9	Salaries and Wages Payable	$2610
	Salaries and Wages Expenses	$2520
	Cash		$5130