Question

Paid employees salaries 5300; restauraunt rent 3400 and advertising expense 750. Record a compound entry

Answer 1

To record the compound entry for the paid employees' salaries, restaurant rent, and advertising expense, you can make the following journal entry. Note that a compound entry involves multiple accounts affected by a single transaction.

1. **Debit Salaries Expense** for the amount paid to employees.
2. **Debit Rent Expense** for the amount of restaurant rent.
3. **Debit Advertising Expense** for the amount spent on advertising.
4. **Credit Cash** for the total amount paid out.

Here’s how the journal entry would look:

**Journal Entry:**

| Date | Account Titles | Debit | Credit |
|------------|-----------------------------|---------|---------|
| YYYY-MM-DD | Salaries Expense | 5,300 | |
| | Rent Expense | 3,400 | |
| | Advertising Expense | 750 | |
| | Cash | | 9,450 |

**Explanation:**
- **Salaries Expense (Debit)**: Recognizes the cost incurred for employee salaries.
- **Rent Expense (Debit)**: Recognizes the cost of renting the restaurant.
- **Advertising Expense (Debit)**: Recognizes the cost of advertising.
- **Cash (Credit)**: Represents the total cash outflow.

**Total Debit** = $5,300 + $3,400 + $750 = **$9,450**
**Total Credit** = $9,450

Ensure to replace "YYYY-MM-DD" with the actual date you are making the entry.