thesultan2355 thesultan2355

03-02-2020
Business

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Smith Company recorded an adjustment for salaries on December 31 of $1,500. On January 1 of the following year, the company reverses this adjusting entry before payment. What is the journal entry made on January 1 to reverse the adjusting entry made on December 31 of the previous year?

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aaqibali09 aaqibali09

04-02-2020

Answer:

The payment is not made hence the reversing entry is as follows

Explanation:

Salaries payable Debit $1500

Salaries Expense Credit $1500

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