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Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $47,000. The accountant preparing the payroll entry overlooked the fact that Salaries and Wages Expense of $27,000 had been accrued at year end on December 31. The correcting entry is a. Salaries and Wages Payable…………………………………………. 27,000 Cash………………………………………………………………… 27,000 b. Cash…………………………………………………………………………… 20,000 Salaries and Wages Expense……………………………… 20,000 c. Salaries and Wages Payable…………………………………………. 27,000 Salaries and Wages Expense……………………………… 27,000 d. Cash…………………………………………………………………………… 27,000 Salaries and Wages Expense 27,000

Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $47,000. The accountant preparing the payroll entry overlooked the fact that Salaries and Wages Expense of $27,000 had been accrued at year end on December 31. The correcting entry is

 

a.   Salaries and Wages Payable………………………………………….        27,000

 

Cash…………………………………………………………………                          27,000

 

b.   Cash……………………………………………………………………………        20,000

 

Salaries and Wages Expense………………………………                          20,000

 

c.   Salaries and Wages Payable………………………………………….        27,000

 

Salaries and Wages Expense………………………………                          27,000

 

d.   Cash……………………………………………………………………………        27,000

Salaries and Wages Expense                         27,000

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