Question

What is the journal entry to record the payment of employee salaries for the month of December 2021, which will be paid in early January 2022?

Answer 1

The journal entry to record the payment of employee salaries for the month of December 2021 would be to debit Salaries Expense and credit Salaries Payable.

Step-by-step explanation:

The journal entry to record the payment of employee salaries for the month of December 2021, which will be paid in early January 2022, would be:

Debit Salaries Expense

Credit Salaries Payable

This entry records the expense of salaries for the month of December, increasing the Salaries Expense account, and creates a liability in the Salaries Payable account, representing the amount owed to employees.