Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 26 - No. 9)
What accounts are impacted when recording the adjustment for accrued salaries expense?
Salaries Expense and Salaries Payable
Salaries Expense and Cash
Salaries Payable and Cash
Salaries Expense and Wages Receivable
Explanation
Accrued expenses increase both the expense and the liability.
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