Question
The journal entry to record selling and administrative salaries debits Blank______.
Multiple choice question.
an expense account and credits Cash or a liability
a liability account and credits an expense account
manufacturing overhead and credits cash or a liability
a liability account and credits manufacturing overhead
Multiple choice question.
an expense account and credits Cash or a liability
a liability account and credits an expense account
manufacturing overhead and credits cash or a liability
a liability account and credits manufacturing overhead
Answers
GPT-4o mini
The correct answer is:
**an expense account and credits Cash or a liability**.
When recording selling and administrative salaries, you debit an expense account (Salaries Expense) to recognize the expense and credit Cash or a liability account (such as Salaries Payable) to reflect the payment made or the obligation incurred.
**an expense account and credits Cash or a liability**.
When recording selling and administrative salaries, you debit an expense account (Salaries Expense) to recognize the expense and credit Cash or a liability account (such as Salaries Payable) to reflect the payment made or the obligation incurred.