a9824991002z a9824991002z
  • 23-12-2020
  • Business
contestada

2011/1/14 Paid wages 50,000
journal entry



​

Respuesta :

Samawati
Samawati Samawati
  • 23-12-2020

Answer:

see below

Explanation:

Wages are business expenses. In the Double entry system, an increase in expenses is a debit entry.

When wagers are paid, cash available reduces. Cash is an asset account. A decrease in an asset account is a credit entry.

the Journal entry in the case will be

Wages A/C   Dr   $5000

Cash A/C    Cr  $5000

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