Q48. Review questions 3
(1) Entity A recorded annual depreciation expense of $4,300.
(2) Entity B accrued $9,200 salaries expense to be paid on the 5th of the following month.
Prepare journal entries to record these transactions.
A48. Depreciation and salaries expense
(1) Depreciation expense = $4,300
Increase in accumulated depreciation (contra-asset): credit
(2) Salaries expense accrued during the period = $9,200
Increase in salaries payable (liability): credit