At October 31, Nathan Company made an accrued expense adjusting entry of $1,400for salaries. Prepare the reversing entry on November 1, and indicate the balances in Salaries

Question

Payable and Salaries Expense after posting the reversing entry.

Would this answer be right???


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.

Answer 1

how do I write this 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